While spot gold tumbled the most it has in seven years on Tuesday, the commodity whipsawed on Wednesday.
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.
Analysts had been warning of gold turning overbought.
However, some now view Tuesday's plunge as too steep.
T A popular gauge of gold exchange-traded fund volatility, Cboe's GVZ index has nearly doubled over the past month.