It’s been a rough day for gold.
Right now, it’s down about 4.1%, hovering right at the $1500 level.
After today’s big sell-off, gold is officially in bear market territory (a bear market is typically defined as a 20% drop from the highest level of the cycle).
Gold topped out at $1900.20 on September 5, 2011.
The $1520 level represents a 20% decline from that peak, and the market already smashed through that to the downside earlier this morning.