GOAU - Gold slides to the downside erasing its weekly gains

Gold rapidly slides to the downside in early trading, dropping to $1,775, erasing its weekly gains. Gold has slid down almost -1.5% over the past two hours. See the below chart.The above chart is a five-day hourly chart showing the quick selloff. Earlier this week, on Wednesday, gold was nearing $1,800 with the support of lower treasury yields. U.S. 10-Year Treasury yields have notched up two basis points in today's trading.A handful of exchange traded funds that investors should keep a close eye on are as follows:Sprott Gold Miners ETF (SGDM): -0.90%.Direxion Daily Gold Miners Index Bull 2x Shares ETF (NUGT):-0.76%.U.S. Global Go Gold and Precious Metal Miners ETF (GOAU):-0.62%.Gold SPDR (GLD):-0.47%.Global Gold Miners Ishares MSCI ETF (RING):-0.30%.Gold Miners Vaneck ETF (GDX): -0.28%.Direxion Daily Gold Miners Index Bear 2x Shares ETF (DUST): +0.85%.The major averages are gaining traction to the upside, clawing back some of the previous session's losses.

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Gold slides to the downside erasing its weekly gains