Gold withstands first wave of selling.

Good evening. Just a quick recon post.

Gold came in as expected weaker, and it was sold pretty hard.

It cracked that level where CTA’s are expected to liquidate. And some stop orders went off. But those were not American based. It bounced pretty well and as stabilized down about five bucks. I can only assume that some of the AmErican CTA business is going to start selling New York time. The question is who bought it tonight down there. I would love it to be institutional Chinese buying like insurance companies.