Gold and Yen bounce together as US yields slip

Since my last update here noted that gold had hit the brakes, when the USD/JPY rebounded things have now shifted back the other way again. The USD/JPY has backed off from above 147.75 and it is now trading close to 147.40. That fall in the dollar has lifted gold once more and both moves have stemmed from a relapse in the US treasury yields. We are talking a move of just 0.04% folks, but that is enough to get the robots hard at work and grinding out gains for the Yen and the metal. So, gold has now lifted past its earlier session highs. The dollar is weaker versus Europe for the very same reason, as the GBP/USD rebounds to a fresh session high above 1.2555. Gold has just now risen to $1,996.07 and it is not much below there now, currently trading at 1,995.45