What will happen? FOMC press conference is among the primary methods the Fed uses to communicate with investors regarding monetary policy…
Gold Flash Crash!
2021-08-09 • Updated
Gold began the week with what we call a “Flash Crash” with over $60 drop within minutes on bets the Federal Reserve may soon start paring back its massive monetary stimulus, especially after the US Jobs Report announcement on Friday came much better than expected. Yet, gold recovered most fn the 4% decline before the beginning of the European session. In the futures market, over 3,000 contracts changed hands in a one-minute window, which is equivalent to over $500 million notional value as activity surged in a typical quiet trading period. Such a move could be tricky and it's too early to judge on whether such a move will continue later today, especially after gold recovered over 90% of the move so far. Therefore, this might be another short trap, and it would be wise to wait until the beginning of the European session.
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Coinbase is a secure online platform for buying, selling, transferring, and storing digital currencies…