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Addendum to Gold update- more detail which might be important
Further to the previous but one update on Gold, it seems the Chinese central Bank is stepping back in to buy gold after several months of not doing so. That news comes from reports on a major News wire (Reuters) and that seems to be behind the break out move we are seeing this afternoon. Of course this may stop at any time, but it seems to be the core reason why the metal has risen even as the USD/JPY does the same and US yields are actually higher. So, technically speaking Gold should probably not be higher right now, but perhaps that is of little consequence to the Chinese central Bank? Gold is currently trading at $2,675.60
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