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Gold Is Just Having A Terrible Day

Matthew BoeslerSep 13, 2013, 01:18 IST

The sell-off in gold has gotten worse this afternoon.

Right now, the yellow metal is trading around $1323 an ounce, down 3.0% from yesterday.

Moments ago, it hit the lowest level of the day at $1322.20.

Société Générale strategists told clients earlier this week that the bounce in gold is over, and advised them to sell the metal with a $1200 price target.

The chart below shows the sharp drop today.

Thinkorswim