Empty death of this 250

Yesterday's gold plunge, the core was Trump's withdrawal remarks + profit-taking + USD/US bond linkage

As a result, spot gold plummeted from $5,530 to $5,105 within 1 hour, with a maximum intraday drop of 5.7%, a rare fluctuation in recent times

Let's talk about the general incident

On the morning of the 29th, due to Trump's military threat to Iran, spot gold once approached a record high of $5,600; Late at night, Trump suddenly changed his words and said that he would withdraw troops from Iran, triggering a market safe-haven reversal + profit-taking, and the price of gold plummeted by more than $400 in 1 hour, and then rebounded slightly, finally closing at $5,377.4 per ounce.
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Spot silver plummeted by more than 8% simultaneously, U.S. stocks and U.S. dollar assets briefly strengthened, and U.S. Treasury yields rose slightly.

The three core reasons for the plunge

1. Reversal of risk-off logic: The withdrawal rhetoric quickly cooled down tensions in the Middle East, and the "panic premium" of gold disappeared instantly, with buying orders suddenly stopped and selling orders pouring out.
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2. High profit-taking: The price of gold has hit a record high before, with a single-day fluctuation of more than $500, and short-term speculative funds are eager to fall into the pocket, exacerbating the decline.
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3. Resonance between the US dollar and US bonds: Safe-haven cooling + Fed policy expectations have pushed the US dollar stronger, US Treasury yields have risen, and the inverse relationship between gold and US dollars has emerged, further suppressing gold prices.

Short-term gold (next 1-3 trading days) is likely to fluctuate in a wide range and repair at a low level, and it is difficult to quickly return to above $5,5,500, with 5,200–5,380 support and 5,450–5,500 resistance at the core.

So, I'm short!

$XAUT ‌#金价突破5500美元