China is dumping bonds, which naturally brings down the dollar, and at the same time, buying up gold for their reserve.
They move in opposite direction, obviously. But you need to remember this is purely Trump play. It has nothing to do with the fundamentals.
Technicals don't matter right now. Unless Bonds stabilize & the DX stops dropping GC just goes higher & higher but any good news probably crashes Gold. See if today GC drops due to Trump's temporary lifting of tariffs on tech supply chain.
I’m still thinking about the big volume last Thursday night. Since then I remembered a trading course I took many years ago and the guy mentioned things you needed to be aware of in the markets, like the Goldman roll (don’t know if it exists anymore). Another thing he mentioned was that Islamists didn’t conduct business on Friday and would sometimes exit the market on Thursday to reduce exposure on Friday when they wouldn’t be in the office. Is it possible that the gold volume on Thursday night was caused by something like this?