Some may be wondering why the 10AM gold smackdown when DXY $ index was down&yuan was up too. The early AM rally had taken gold futures to just below key technical "resistance" level&any higher would've caused those record,off-the-charts shorts a lot of pain. So it was beaten down
If one looks back at the early 2016 gold short squeeze (& I have)these same types of battles occurred in first couple of weeks before shorts were overrun (and then the gold rally really got going). But before that - it was two steps forward& one step back type-battles with shorts
I don't buy all the govt conspiracy theories that gold's being "suppressed." It's the large spec traders (always wrong at inflection points). In early 2016 there were huge numbers of spec. shorts (who got it wrong). Six mos. later they were record long (& wrong again).
