My theory is that traders are moving out of gold and going long on the index futures. I think ES/YM/NQ have a lot more potential than Gold at this point. Gold was going down and only got saved by people "safe haven" buying. Gold near 10 year high doesn't seem safe to me. But the indexes at their x year lows seems safe to me.
?.........gold can make a similar percentage drop as the S&P-500 for deflationary purposes and all of that B.S. about preservation of purchasing power.
Gold down methinks because everyone is pretty much liquidating everything. Plus market markers can't really like buying bids on anything these days