Gold and silver plummet in the early morning, shorts do not wait for anyone
$XAU fell to a low of $4,356, $XAG broke below the 67 mark.
Last night, spot gold once plummeted over $100, with a decline of 3.33%; silver fared worse, crashing 5.81%. COMEX gold futures also plunged, with market sentiment cooling overnight. From a technical perspective, the daily MACD death cross negative value continues to expand, and short selling momentum is still increasing. The gold-silver ratio has risen above 64, with funds accelerating outflow from precious metals.
Oil prices surged 5% breaking $94.9, with funds running from gold to oil.
Can you hold on?
$XAU
XAGUSDT
Perp
69.87
+0.01%
XAUUSDT
Perp
4,505.99
+0.18%