Gold Price Risks 6% Drop as Smart Money Quietly Sells the Top

Gold price sits at $4,491 below most of its short-term moving averages, with commercial hedgers stacking shorts at the top while speculators add longs.

The breakdown sits inside a five-month falling channel that has held since January, while options positioning and Iran-oil tension acting on the dollar add layers to the bearish setup.

Gold Slips Below Three Short-Term EMAs Inside Falling…