COMEX ( CME GROUP )reason for the drop today

This is classic action when the CME Group lowers margins. Today was the day and as you can see the drop happened. Funny though the new media doesn`t address it. This happens off and on as the price of Gold reaches certain levels. Those over extended to the new margin rates have to sell, then stop losses kick in. It is a bit ironic they do this right after the 50 MA crosses over the 200 MA. The second time the lines have crossed this year. That crossover is called the GoldenCross but needs to be tested and confirmed. A Goldencross is considered very bullish but margin decreases we see what we see today.