Gold Breaks Below Key Support, Drops To 4-Month Lows

At 0907ET, someone decided it was the perfect time to dump $1.5 billion notional worth of gold, smashing the precious metal below its 200-day moving-average and back down to 4-month lows…

And so, once again, gold futures are tumbling…

To 4-month lows…but still up around 10% year-to-date…

What’s driving the gold weakness? Who knows… because it’s not the dollar…

Though Gold’s sensitivity to USDJPY has picked up notably…