Gold Flash Crash!

Gold Flash Crash!

2021-08-09 • Updated

4H Chart

XAUUSDH4 9 Aug 2021.png

Daily Chart 

XAUUSDDaily 9 Aug 2021.png

Gold began the week with what we call a “Flash Crash” with over $60 drop within minutes on bets the Federal Reserve may soon start paring back its massive monetary stimulus, especially after the US Jobs Report announcement on Friday came much better than expected. Yet, gold recovered most fn the 4% decline before the beginning of the European session. In the futures market, over 3,000 contracts changed hands in a one-minute window, which is equivalent to over $500 million notional value as activity surged in a typical quiet trading period. Such a move could be tricky and it's too early to judge on whether such a move will continue later today, especially after gold recovered over 90% of the move so far. Therefore, this might be another short trap, and it would be wise to wait until the beginning of the European session.

S3 S2 S1 Pivot R1 R2 R3
1683.27 1729.43 1746.23 1775.59 1792.39 1821.75 1867.91



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On Friday, the gold price (XAUUSD) retreated from a recent two-week high, facing selling pressure. This decline was driven by hawkish minutes from the FOMC meeting, indicating the Fed's reluctance to cut interest rates. Elevated US Treasury bond yields, supported by a "higher-for-longer" narrative, further weakened demand for gold...

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