Gold crash further to go

Tuesday 28 October 2025

The Market Ear has the rub.

Just got too extreme

We have been pointing out the case for a gold correction recently, here and here. Things simply got way too extreme. One of those measures is just how dislocated gold got vs 200 day moving average. Things have calmed down some over the past days, but the dislocation vs the 200 day is still rather wide.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.