GOLD 0.51% $1,391.7 gold futures

Gold, oil and many other commodities were smashed overnight....

  1. 4,485 Posts.
    Gold, oil and many other commodities were smashed overnight. Gold recently has ignored the falls in the likes of oil etc, but not last night.
    Gold has also bounced back very quickly from every recent sell off, so it will be interesting to see if it does again.
    One thing I noticed after all the jawboning re Russian gold sales,the market obviously wasn't that convinced as the short position was quite light.
    A couple of points with Christmas & New Year coming.
    Asia, typically buyers of gold don't generally celebrate Christmas.
    I would suggest the market is quite long dollars, could be a bit of paring of positions & profit taking going into year end.
 
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