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Gold backs away from a new all time high
As expected and conveyed here at the time, Gold did get its name in the record books again, when it rose to set a new all time high, at $2,956.18. It later set a new all time daily close, at $2,951.73, but not until it had fallen back very close to $2,930 first. An attempt earlier this morning to rise above the high seen yesterday very quickly ran out of steam and gold has fallen back again. The earlier high today was set at $2,953.82. The low since that high has just been set at $2,933.69. The further falls in US yields this morning has not at this stage provided enough of a catalyst to deliver a new record today, but we do know how often dip buyers keep coming back on this one. So, the only question from here on today; is will we see that happen again today? Gold is currently trading at $2,935.55
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