This rally could be short-lived, however, as the underlying trend remains bearish. **Key Takeaways:**

* **Death Cross:** The dollar’s trade-weighted index is experiencing a “death cross” as its 100-day moving average falls below the 200-day moving average. * **Bearish Trend:** The index has been declining since Powell’s speech, indicating a bearish trend. * **Potential Rally:** Short-term traders may experience a short-lived rally due to profit-taking after the recent sharp decline.

The Managed Money category is a group of large institutional investors, including hedge funds, pension funds, and mutual funds, that are considered to be significant players in the market. They are known for their large trading volumes and their ability to influence market prices through their positions. The Managed Money category has been net long in the futures markets since late-2020, indicating a bullish sentiment.

The Shanghai Gold Exchange (SGE) is experiencing a shift in demand, with withdrawals moderating at current prices and premiums disappearing. This indicates a shift from institutional to retail demand. **Detailed Text:**

The Shanghai Gold Exchange (SGE), a significant player in the global gold market, is witnessing a notable change in demand dynamics. This shift is characterized by a decline in withdrawals from the exchange, which is indicative of a decrease in institutional demand.