Gold falls below $2,900

Since an earlier update this morning, noting that gold was treading water, more recently the metal has just now fallen below $2,900. The reason for this looks linked to possible liquidation of profitable trades in order to cover mounting stock market losses this morning. The US futures have fallen even further since the most recent updates on the Dow Jones and the Nasdaq 100. The S+P 500 is under pressure too and all this seems to have delivered forced selling on Gold. That is clearly at odds with a more usual risk based dynamic, but outside of that explanation, the fall below $2,900 makes little sense. Gold is currently trading at $2,900.80