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Thursday, March 28, 2024

Gold Slammed On Massive Volume To Key Technical Support On GDP Beat

Courtesy of ZeroHedge. View original post here.

The better-than-expected second revision for Q3 GDP prompted algos to instantly dump yen and precious metals.

Gold was slammed down top its 100-day moving average on around 45,000 contracts (almost $6 billion notional)

The Feb Gold futures contract is finding support at the intersection of the 50- and 100-day moving average for now…

Silver is also suffering after being beaten down from its 200DMA (red)…

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