Gold Sheds $30 In Two Days

June Gold futures are trading lower by $21 at $1227.30 in Thursday's session. After ending Tuesday's session at $1260.90, the contract has fallen under $1230.

Much of the damage was done in Wednesday's after-hours session when it breached Wednesday's low ($1241.40) and fell into the lower $1230 handle. It managed to rebound back to the $1240 area around $1240, but sellers came in once again.

At this time, the contract found support ahead of April 7 low ($1224), only reaching $1225.80 and attempting to rebound.