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Gold price plunges: It's not the gold that's bad, it's the 'vehicle' that's too heavy!
Today's big drop, don't just focus on the Fed nomination. That's at most a 'spark,' the real problem is that the barrel of gunpowder called gold has been stuffed too full! 💣 Why such a sharp drop? In one word: too many people taking the same side, and the exit is too small. Gold had been rising too smoothly before, even to the point where 'buying blindly would still make a profit.' When market sentiment is highly unified in being bullish, this very consistency is the biggest risk. This isn't manipulation, it's a 'systemic stampede.' Stop talking about conspiracies by big players; this is a structural issue: crowded long positions: a lot of money went in with leverage. Chain reaction: prices loosen just a bit...