I can't find any logical explanation for the gold price at the...

I can't find any logical explanation for the gold price at the moment. It's shot up almost $30 at the open just then (so it should on the SWIFT announcement), immediately comes crashing back to earth. Gold price is lower right now than it was before the invasion started, go figure. Maybe the market is anticipating Russian CB will need to dump its gold reserves (maybe it's already started) to prevent it from defaulting on its debt, but that seems like a temporary solution because the Ruble has been murdered and they don't have an infinite supply of gold. I wouldn't be surprised to see the gold price go a lot lower this week just because it can't seem to catch a bid, even though it makes absolutely no sense to me on a fundamental level.