The sharp sell of in precious metals today brought out the usual suspects who spend too much time acting like they smoke too much grass and in the end, well, looking like ass:
🅿🅰🅽🅸🅲 pic.twitter.com/VbPmwRMLJx
— Hugh Hendry Acid Capitalist TV (@hendry_hugh) October 21, 2025
So just because us old goldbugs won’t surrender the historic principle that gold is money and buy the digital fraud, the attacks continue as their Ponzi scheme whipsaws without participation by many nation’s central banks around the world.
Today’s dramatic decline in gold prices is best highlighted by the mainstream non-financial media’s screaming headlines of “oh my God it’s over” if one is to believe the hyperbole:
Gold logs its biggest one-day selloff in years. Is it a bump in the road or have prices topped out? – Marketwatch
Gold Prices Suffer Worst Loss In 12 Years After Huge Rally; These ETFs, Miners Plunge – Investors Business Daily
Gold plunges nearly 5% as dollar surges, traders cash out after record high – NY Post
Stock Market Today: Gold Suffers Biggest Drop in More Than a Decade – WSJ
And on and on and on it went.
But was it really that bad of a shocking move which is terrifying newbies and retail gold players like it’s 1984 all over again?
The best perspective came from this post via X which illustrates the magnitude of today’s move:
The gold chart from today’s future market reminds everyone that “oh my gold” was what some traders screamed at their screens today although there was plenty of warning that a correction was way overdue.
Silver did not fare much better falling all the way back to levels (checks notes) last seen on October 10th; of this month.
So just what does all the media and online cryptocrazy’s silliness really mean?
Nothing.
- The rally is intact
- Support is still around 3800 for gold
- Central banks will still be buying
- Smart retail will buy any dips below $4000 per ounce
- Economic stability is not returning to the West any time soon.
Thus enjoy the title gif of an exploding pumpkin and duck if a chunk of it flies towards your head. In the mean time, enjoy the hyperventilation from way too many people who were not around in 1978 to 1982.
