Gold futures bears on Friday morning appeared to be targeting what was this week’s low of $1.797.10, basis December Comex futures, “gunning for sell stops” that rested just below that technical support level. When that key near-term level was breached the bottom did indeed fall out of the gold futures market. Many times, big futures players will try to hit a quiet market by surprise, when they believe volume is thin, such as today. It appeared to work for gold and silver market bears today.
