Gold Just Got Whacked On Heavy Volume

Gold is having another rough day after yesterday’s selloff.

The shiny yellow metal has been trending down since around 10:15 AM, but it really took a hit in the last 15 minutes or so, dropping another $10 just since then (though now it’s starting to retrace its losses a bit).

The subgraph below shows the big spike in volume around that time.

Right now, it’s down around 1 percent on the day, trading near $1560 an ounce.

Yesterday, Société Générale put out a big report declaring the end of the era of gold. Most of the sentiment we’ve seen on gold lately has been negative.

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