Market correction? Investors flocking to gold.

[frugal.rock]

I have been expecting a market correction for a while now, and with over $50 billion wiped from our markets yesterday, and with seemingly a similar amount being wiped off today thus far, we may be in the midst of an emerging market correction.
Currently all sectors ( with the exception of gold) are down today between 1 and 2% with no great signs of that easing, today anyway.
Investors are flocking to gold today and it is the only sector up at around 0.4%.
With what has happened yesterday and today, I don't think we have seen the last of it yet.
Am interested in others opinions.
There were plenty of other market correction threads, but none current?
F.Rock

 

[SirRumpole]

Probably just a response to Trump's no deal with China, although it could last a long time if Trump says there may be no deal until after the next Pres. election.

Could it be he's doing a bit of market manipulation ?

 

[aus_trader]

An interesting start to December (usually the month that has a good finish due to Santa rally). So I hope it's a bit of market manipulation as SirR said.

But will be watching this month quite closely as I have some exposure to the market with stocks in my spec portfolio. I have in fact held off some spec purchases that I had researched on due to the current market price action.

 

[Gringotts Bank]

NCM seems to have bottomed. It was holding the GOLD EFT back, but now it can run.

 

[aus_trader]

NCM seems to have bottomed. It was holding the GOLD EFT back, but now it can run.

Which gold ETF are you talking about, GDX ?

 

[Gringotts Bank]

Which gold ETF are you talking about, GDX ?

ETP.EFTS GOLD. $203.7

 

[aus_trader]

ETP.EFTS GOLD. $203.7

Yes, same scenario with GDX as well it has consolidated for a while and could be headed higher...

 

[frugal.rock]

Probably just a response to Trump's no deal with China,
....
Could it be he's doing a bit of market manipulation ?

Could it be a bit of market manipulation from the other end of the talkers... She Gin Ping?
Was in the former Peking for a month mid September to mid October.
I noticed that the first 3 days of their national week long public holiday in early November saw our markets decline savagely, whilst their markets were closed. They had massive 70th Republic anniversary celebrations, which I heard were not covered much by media here in Aus.
It is a war of economies after all!

 

[frugal.rock]

So, was an early call, with little basis.
Gold stocks are being sold off so I guess all is well. Market correction averted.
Back to the volatility of mini corrections. With population growth, there is always going to be new highs being set.
Without a major catalyst or 3, I guess the mini corrections are normal. 2 steps forward, 1 back ad infinatum.
F.Rock

 

[greggles]

This video makes a compelling case for a possible near term correction based on an historical market analysis. Definitely worth 11 minutes of your time.

 

[Dona Ferentes]

Market correction? Investors flocking to gold​

One place this may be true is Japan
... gold in Yen :