Gold Breaks Down As China Hits The Sell Button And CTAs Line Up To Follow

All good things come to an end

Gold remains under pressure, continuing its downward momentum. As of writing, it is testing the 21-day moving average. A close below this level—and the key $3,200 support zone—could open the door for a move toward the trend line established since January, which aligns with the 50-day moving average near $3,100.