Gold hits an air pocket
A potential outside day is shaping up in the precious metals market. Both gold and silver hit record highs in Asia but have reversed lower.
Gold is down $27 to $2036 at writing, after falling as low as $3023 in volatile trade. The pair fell $20 in 7 minutes just after the top of the hour.
I’m a big gold bull but this has gone too far, too fast. Silver is even worse, up 56% from July 20 at today’s high.