Wednesday, November 23, 2016

"$6 Billion Puke Sends Gold Plunging Below $1200 As Dollar Index, Bond Yields Spike" (DXY)

There's a reason we started jumping up and down when the dollar began going vertical 10 or so days ago.
DXY 101.770 +0.730; Dec. gold $1186.8  -24.4; Dec. silver $16.230  -0.402

From Zerohedge:
As Chinese Yuan collapses to fresh lows (USD Index spikes), and bond yields surge, this morning's durable goods data sparked an extended collapse in gold, crashing them below $1200 as over $6 billion of pressure flowed through futures.

EUR down, Stocks down, Bonds down, Gold down...

Yuan just keeps crashing...

...Sending gold reeling... as 50,000 contracts are dumped
The gold liquidity moment started it (around 0825ET) but the US macro data sparked the break below $1200...
Pushing Gold to its lowest since Feb...

"Dollar Gravity On Precious Metals"
"Clean Break: What If The Dollar Rises By Another 10%?" (DXY)
"Dollar strength exposures are not what you think" and "Inflating inflation expectations"
US Dollar Index: To Infinity and Beyond! (DXY)
Currencies: "Dollar Steps Up to Start Week"
Currencies: "Focus on Policy Mix Strengthen Dollar Bull Case"