Gold futures swooned in Thursday's session as a massive wave of selling hit the commodities complex and the US Dollar surged. The drop hit the precious metals especially hard, with gold falling back below major resistance at $1,550 per ounce after briefly breaking through the level earlier in the week. This may mark a definitive failure for the near term, as the sell-off propelled gold through the Rising Wedge support trend line at $1,525 per ounce.
