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Gold is down 5% in two sessions on double average volume while equities are only off 1.6%. Nobody repriced their inflation view that fast on a Tuesday. That velocity-volume combination is a position being unwound, not an opinion being changed, and forced sellers do not get to pick their exit price. When the margin clerk is the one selling, I want to be the one bidding. RSI 25.6 on the shiny rock. Bids in the water.

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