Panic

Much as it is weird to see people panic to sell uranium in knee jerk fashion, it is usually not so healthy to run to gold (or silver for that matter) in panicked desperation.  Gold is insurance and you don't buy insurance in the middle of the disaster.  Just as you don't sell uranium in a panic either.  You sell it after buying when nobody wanted the stuff last year and deciding not to be piggish after 100% gains.

Back to gold, it usually does not end well for the knee jerkers when they buy precious metals out of emotional impulses.  Here is the GLD chart flagging beneath all time highs resistance.  I cannot claim to be bearish gold, because in fact, I am quite bullish on its fundamentals and technicals, stand alone.  But these noisy events can create problems along the way.

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