MARKET PSYCHOLOGY:
On October 15, as gold was hitting a blow-off top, people in 🇦🇺 Australia were lining up for hours to buy it.
Today, after an 11% correction over the past couple of weeks, those lines have vanished, even though gold has already bounced 5% off the lows.
https://blossom.primal.net/2fcaa794febb4b878050f31fa2be1b38846e45d245c741b5d7506f3daf5ea357.mov
Many were Indians lined up for Diwali (they gift gold to each other) and others were wanting to buy the new Bluey coin before it sold out, probably for Xmas gifts. It had not all that much to do with a run on gold because of gold price, I suspect. I live in Australia. :)
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