Gold is being trashed. Oil is furthering its lower move also.
Gold had a bad session on Friday … but its all relative 😀
‘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.
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).