Heavy selling has been seen across all four precious metals this morning. Gold has dropped $50/oz and is now trading around $1477/oz.
The break of the 200 day moving average - at about $1500/oz - seems to have triggered stop-loss selling.
RSI now oversold FWIW. https://t.co/Db5oDuRYaS
Gold's fallen sharply but platinum's move is more of a collapse. https://t.co/7gDt1XATJS
Even palladium, darling of the precious metals market, has fallen far and hard. https://t.co/EhreOVyiUO
As to silver, OMG!
And note: platinum, palladium and silver have been oversold on a 14-day RSI for a number of days. This shows its not an automatic buy signal. https://t.co/o7eym7nAym