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Can someone smarter than me tell me if this affects me or not? (europe.pub)
submitted 8 months ago by to c/outoftheloop@lemmy.world
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[–] 7 points 8 months ago* (5 children)

It doesn’t. It means the dollar is strong and people no longer want to invest in “alternatives”.

Unless you have a bunch of gold, then yeah… it affects you lol

Edit: also, gold doesn’t really have a “market cap”. We would need to know exactly the amount of gold on our planet to calculate a market cap

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  • [–] 10 points 8 months ago (3 children)

    Maybe the market cap in this graph is the total amount of gold extracted.

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  • [–] 3 points 8 months ago (2 children)

    That would be my guess. But do we even know that precisely?

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  • [–] 9 points 8 months ago

    The gold market cap has always been the approximate amount of gold that has been extracted. While I don't think anyone can give you an actual precise number, the approximate number is pretty widely known and tracked as we extract more.

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  • [–] 5 points 7 months ago

    The dollar still isn't much different than it was a month ago. The bet is less on how strong the dollar is than how stable the stock market is going to be in the near future. And apparently people expect a relatively stable stock market.

    Either way, this fluctuation doesn't even matter if you hold gold unless you engage in short-term trading. Anyone with a "sit on it" strategy can pretty much ignore such behavior.

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