Bonds and stocks in play
There is no clear reason for the quick drop in gold to a low of $1308-83 from $1317.
I think it’s a combination of a few things:
- Stops on a break of $1313
- Volatility in ETFs around the stock market open
- Bond-gold trades being unwound
In the bigger picture it’s immaterial to gold but it’s a sign of the volatile times right now.
