Risk-off macro: gold slump, oil at $104, equity deleveraging
Gold broke key support, oil is back near $104, and tech/AI stocks are selling off. Commentators describe a broad deleveraging backdrop alongside war-escalation fears.
What we know
An account on X lists the largest equity deleveraging in 10 years, a 3.6% gold drop and oil at $104. Another account on X says gold broke below $3,970 as the tech/AI selloff intensified. His COT analysis shows a seventh straight week of managed-money net selling in commodities. Another account on X notes alt perp traders drifting to equity perps.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.