Gold Breaks Below Key Support, Drops To 4-Month Lows
At 0907ET, someone decided it was the perfect time to dump $1.5 billion notional worth of gold, smashing the precious metal below its 200-day moving-average and back down to 4-month lows...
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And so, once again, gold futures are tumbling...
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To 4-month lows...but still up around 10% year-to-date...
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What's driving the gold weakness? Who knows... because it's not the dollar...
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Though Gold's sensitivity to USDJPY has picked up notably...
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