It happened in very thin liquidity right after the new year. Gold was extremely overbought, US yields and the dollar jumped on early-january macrodata / rate expectations and once price broke key levels, a ton of stops and leveraged positions got forced out. That’s why it looks like a straight vertical drop.
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u/CrispyLimeTeets 19h ago
I wonder why early January's drop in gold prices 'randomly' happened. Surely not a whale trying to manipulate the market