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The Great Gold Unwind
Since posting record highs on October 30th, gold futures have been heavily sold with investors exiting long positions at a rapid pace. Now down around 7% from those highs, the market shows no sign of rebounding with the futures price quickly approaching a retest of the 2,530-breakout zone. With USD rallying in the initial aftermath of Trump’s re-election news and Fed easing expectations quickly falling, gold traders are poised for further downside near-term. With global markets bracing for a return to the heavily tariffed environment of Trump’s first presidency, bullish bets in gold are being quickly dumped as ... (full story)
