Gold’s recent movements

GoldHub/John Reade

Repost from 8-10-2021

“Could the sell-off have been a ‘fat finger’ or something malicious? Either are possible. But its also possible that gold slipped lower as the dollar firmed, triggering stop-loss selling, which caused gold to slip lower, triggering more stops until the selling was exhausted.”

USAGOLD note: Reade offers a reasonable assessment of what happened in the gold market Friday and Monday and a way to view it that makes a great deal of sense. The sell-off was not the result of thousands of investors suddenly deciding they want out of the gold market, Instead, it was computer-based selling that generated a cascading effect – in short, as we have reported here previously, another example of the madness of machines.

Gold price
(5-day)

line chart showing gold's flash crash 8-9-2021

Chart courtesy of TradingView.com

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