Metals are getting crushed (GLD, GLX, SLV)

Precious metals are bleeding on Wednesday.

On Sunday night, gold flash-crashed with a very quick 4% plunge that sent the precious metal to a five-year low. And on Wednesday morning, gold was back near those absolute lows.

Silver was also red, palladium fell more than 2%, while platinum and copper were each 1% lower.

And following gold's plunge, analysts are getting increasingly bearish on the commodity.

Goldman Sachs now sees the price of the metal dropping below $1,000 an ounce,...

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