Gold is under continued selling pressure today. The metal sells off regularly, around every three months. This is simply how it trades. The last significant corrections occurred in March and January.
From the January peak, gold is now down 26% at time of writing, already exceeding the drawdown seen during the 2008 financial crisis. At current levels we are only c2% away from $4,090/oz, the midpoint between the median of the worst drawdowns over the past 30 years and those over the past 50+ years.
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