Gold is being trashed. Oil is furthering its lower move also.
Gold had a bad session on Friday ... but its all relative :-D
'Death cross' calls from technical analysts doing the rounds now. Other t/a points to breach of $1750.
As are suggestions that the weekend BTC rally has highlighted the attraction of crypto over gold now ... I'd suggest this is grasping for a narrative or a bit of axe-grinding but there you go.
Reports of large selling ... which seems rather self-evident. 24k contracts sold (and, obviously, bought ... but it was the bids getting slammed).
One thing to bear in mind is the time, as in what time is it? Its really early in the week, which as I warn every single time in my first post of the week is a time of poor liquidity. I give that warning in the context of FX but it applies to any instrument at this time (not crypto, which trades all weekend). There are no deep markets at this time of the weekly cycle. This lack of depth can (not always obviously) lead to extended moves.
