It’s certainly not a sign of a bull market, but nothing goes down immediately, and a 13% drop is better than many major currencies have seen in this period. The decline is primarily a story of the strength of the US dollar and tightening by the Federal Reserve. 2) Central banks buy heavy gold Gold The World Gold Council reported that central banks bought 399 tons of bullion in the third quarter, nearly double the previous quarter’s record. It is unclear which central banks have been buying, but eyes are on Russia and China as the US has weaponized the US dollar. 3) Maximum barking from Central Banks Last week there were 6 Central Bank decisions and 5 of them were stupid. The Federal Reserve raised the benchmark, but only „slightly,” Chicago Fed President Charles Evans said today. Central banks still roam, of course, but the pace slows and the market usually moves to some other derivative. I’m worried about the specs. The chart is not great. There is still a scary double top at $2070 and the latest bounce looks like a repeat of that bottom before the next drop. The highest measured target is $1,350.