Gold plunges to lowest since Jan 2010 as stops hit

Heavy selling in a thin market

Gold is down $10 in the past few minutes after it broke the Nov 17 low of $1063.

Stops were blown out down to $1054.45 in a quick 1.5% move lower. Liquidity is thinner than usual because of the US holiday and the US dollar is strong across the board.

The Jan 2010 low of $1043 offers some minor support followed by the Feb 2008 high of $1032 but overall it's not a pretty picture in gold.