Gold sits at the March 31 low after a $15 fall

Tough day for gold

The market senses a Fed hike is coming in June and gold is bearing the brunt of the bad news. It had already been a rough day for gold but it's fallen another $5 in the past few minutes.

Watch for more selling if $1239 breaks.

Update: And there it goes in another quick move to $1236 -- ugly.

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