...$2500 looks like just a whisker away, but could drop if it...

...$2500 looks like just a whisker away, but could drop if it does not hold.

...But while $2100 looks unlikely, a market crash could still see a -10% contraction to $2200-2250 but needs to be a sizeable unrelenting train wreck, not a manageable one.

...But AUD Gold poised to scale above A$3800 (all time high $3787) only $16 away TONIGHT.
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The Dec. futures are holding the breakout above $2450 and getting close to a second test of $2500.

Those that voted yes on the breakout are looking pretty good at the moment.

In order for gold to test $2100 again we would need stocks to crash into a major 4 year cycle low.
That would be 1000 points or more lower on the SPX. In that scenario we would have large margin calls in the last week to 10 days of the crash that would infect everything including metals.

I still think this is a low odds scenario, and even if it does happen we still need a counter trend rally that lasts longer than 1 day.

https://x.com/garysavage1/status/1819206534116921772