The Great Gold Puke

All good things...

....must come to an end. Gold is puking, putting in the biggest down candle in forever as it breaks below the short term trend channel. The 50 day comes in around $2635, and the bigger trend line around $2600.

Source: Refinitiv

 

Can't handle the dollar

Gold waking up to a "new" world where it simply can't take the dollar strength.

Source: Refinitiv

 

The gold vs rates gap

Imagine rates start to matter for gold...

Source: Refinitiv

 

Goldilongs

The crowd is very long gold.

Source: DB

 

Beware potential gold sellers

CTA downside convexity in gold could get "dynamic"...

Source: BofA