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From Telegram:
The gold market has been absolutely crushed in New York trading, as it looks like we are more or less focusing on interest rates as they are climbing. And of course, everybody is freaking out and panicking. This is mainly driven by algorithmic trading. Longer term, we’re still very much in an uptrend, but we did just complete a double top, and we have confirmed that we’re trying to break the neckline. The question, of course, will be, where do we close? If we close well below the 50 day EMA, then that obviously could be a relatively negative turn of events, and it opens up the possibility of a correction down to the $3,000 level.

From Telegram:
The gold market has been absolutely crushed in New York trading, as it looks like we are more or less focusing on interest rates as they are climbing. And of course, everybody is freaking out and panicking. This is mainly driven by algorithmic trading. Longer term, we’re still very much in an uptrend, but we did just complete a double top, and we have confirmed that we’re trying to break the neckline. The question, of course, will be, where do we close? If we close well below the 50 day EMA, then that obviously could be a relatively negative turn of events, and it opens up the possibility of a correction down to the $3,000 level.