Gold * Still balanced

This one of the less volatile reaction in the market was probably one of the few things that I’ve heard today.-

Gold sold off less than $10 towards $1600 in which buyers (programs??) instantly reacted, fuelling a complete retracement in less than 5 mins.


Two clusters of balance

$ 1616-$1600 (Broader)

$1610-$1600 (tighter)

Thus, no material changes to the alternatives provided back  Tuesday.-

However, it is important to underline the increase in terms of  short positioning – regardless that the price is $15 higher than of Friday´s close .-

There are many important econ. #´s beign announced in the following hours and tomorrow. Among others: China PMI, Euro, German and French PMI´s, Spanish 10 yr. Bond auction and Philly Fed Manuf.

Have some issues to address tomorrow, so likely is that will be no update.-



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