Gold Is Getting Smashed

Gold has taken two sharp declines this morning: once around 5 AM ET, and then again around 8:15.

It just got a little bounce at 8:30, when weaker than expected retail sales figures were released in the United States, but it’s still down 1.9 per cent, trading around $1534 per ounce.

Silver is also getting slammed – it’s fallen 2.9 per cent this morning.

The chart below show’s this morning’s action in the gold market.

gold

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