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Someone Just Panic-Bid For Over $2 Billion Notional In Gold Futures...

Shortly after Mexico announced it would increase its FX hedging program due to inflation fears, someone decided it was the right time to buy over 17,000 gold futures contracts (over $2 billion notional), driving the precious metal up to its 100DMA once again...

 

Gold has been hovering around its 100DMA for 6 days...

And silver is also spiking...