Gold Adds onto Yesterday’s Swift Selloff

Gold is at it again Wednesday, following through on gold’s technical selloff on Tuesday. The precious metal has dropped below the safety of the bottom end of the 7/15-7/20 trading range. Gold continues to drop faster than the Dollar appreciates while crude finally tags along to the downside. The size of gold’s pullback is incredible, and we still haven’t found the driving force. Many analysts are attributing gold’sdecline to the Dollar’s appreciation.