Gold Crashes To 5 Month Lows As 'Someone' Dumps Over $10 Billion (On A Bond Market Holiday)
Over 85,000 gold futures contracts (over $10 billion) just traded as gold plunged from $1260 to $1230 as US equity markets opened.This is the worst 7-day run for gold since November as Dec rate hikes were jawboned more likely.
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Down 5 days in a row, today's crash has dumped the precious metal to its lowest price since June...
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Of course, this makes perfect sense, as EM FX collapses, inflation expectations spike most in years, and Trump's debt-funded fiscal spending plan means more QE.
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We will get more #QE when the economy falters. Thus the hope is not to get more QE.