NEW YORK (TheStreet) -- Gold prices were sliding Wednesday morning as traders of the yellow metal continued to search for technical support. Gold gained 1.9% on Tuesday.
Gold for June delivery at the COMEX division of the CME was shedding $12.90 to $1,374.50 an ounce. The gold price traded as high as $1,386.40 and as low as $1,365.
Gold's 9.3% collapse on Monday elicited surprise from many veterans -- some of whom have covered precious metals for four decades.
" We shall confidently say that we will never, ever see a day such as we saw yesterday in the gold market in our lifetime again. It will not happen," Dennis Gartman, editor of The Gartman Letter, wrote on Tuesday.
Silver prices for May delivery were losing 78 cents to $22.85 an ounce, while the U.S. dollar index was gaining 0.46% to $82.21.
