(USAGOLD – April 11, 2019 PM) – In casting around for an explanation why gold suddenly dropped $17, we were unable to find a direct cause. We do note, however, that at precisely the same moment (10:45 AM, ET) the Japanese yen dropped precipitously and the U.S. Dollar Index spiked higher. Why all three moved so abruptly and in concert – rather than in some sort of logical sequence – remains a mystery at this hour. If a plausible explanation surfaces, we will post it.
Charts courtesy of TradingView.com