While spot gold tumbled the most it has in seven years on Tuesday, the commodity whipsawed on Wednesday.<br />According to Business Insider, spot gold dropped as much as 2.6% below $1,900 per ounce before gaining as much as 2% through the morning.<br />Analysts had been warning of gold turning overbought. However, some now view Tuesday's plunge as too steep. T<br />A popular gauge of gold exchange-traded fund volatility, Cboe's GVZ index has nearly doubled over the past month.<br />Saxo Bank commodity strategy head Ole Hansen said the growing interest in gold among retail investors could boost prices back above $2,000 per ounce.
