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)
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.-