Gold Drops To Key Technical Support After $2 Billion Purge

After surging above its 50-day moving-average on Friday, it appears someone is keen for that key technical level not to hold as they dumped almost $2 billion notional in seconds this morning, testing down to the 50DMA (but holding for now).

15,000 contracts dumped in under two minutes… but for now the 50DMA is holding…

The Dollar Index has been flying around after the Merkel headlines over the weekend…