Gold’s recent selloff pushed the precious metal through its 200-day moving average for the first time since Jan. 2009 early Wednesday. That’s usually a bad sign for an asset, as these moving averages are used to even out daily blips and signal a shift in a long-term trend. And indeed, gold’s losses have more than doubled from Asian and European hours and just minutes ago, gold GC2G dropped below the $1,600 level, recently down $87 an ounce, or 5.2%.

Originally from MarketWatch