Gold Slammed On Massive Volume To Key Technical Support On GDP Beat

The better-than-expected second revision for Q3 GDP prompted algos to instantly dump yen and precious metals.

Gold was slammed down top its 100-day moving average on around 45,000 contracts (almost $6 billion notional)...

 

The Feb Gold futures contract is finding support at the intersection of the 50- and 100-day moving average for now...

 

Silver is also suffering after being beaten down from its 200DMA (red)...