“i’m expecting gold to pop in the early hours and then tank when the US market opens as the fed dumps its gold contracts for a loss”
I don’t think the Fed buys or sells gold or gold contracts. I could be wrong, of course. Now, the Treasury is, from time to time, very active in the gold market. Did you mean the Treasury rather than the Fed?
the fed
they buy gold contracts in the late afternoon at market.
if they think the dollar is going to take a hit, they sell gold contracts in the morning for a loss to keep the dollar up, relatively.
they don’t care about the loss, as they just print the ‘money’ (i know the treasury actually prints the money, but the fed is the source)
all that matters is keeping the dollar from collapsing