Gold prices dropped dramatically in trading today, making an intraday low of $1772.40. As of 3:25 PM EDT, gold futures are fixed at $1784.80.

After posting an extremely robust GDP of 6.7% in the second quarter, analysts polled by the Wall Street Journal predicted that the GDP for the third quarter would show a significant contraction in the economic recovery.

Gold had modest gains today, partially recovering yesterday’s strong selling pressure resulting in just over a $12 decline. As of 5 PM EDT gold futures basis, the most active December 2021 contract is up $4.90 (+0.27%) and is currently fixed at $1798.30.