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

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.