Gold is still under pressure, it seems like it is range bound rather than trending...perhaps signaling falling inflation and higher real rates as a result?
China exports deflation, Fed cuts but inflation falls faster than what rate cuts do with real rates, so Gold goes down. Ok by me, considering the big picture in equities. We saw similar behavior in 2016, which in many ways is similar to today's macro landscape.
I can see Bitcoin out performing Gold in a similar fashion as well.
Digital > Analog gold. Happy to sidestep this drop and wait for the next bottom in precious metals to buy them.