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Gold backs off as Yen weakens

Gold has held its ground pretty well so far today, given the slide in the Yen and jump above 150 in the USD/JPY. That said, the metal is off its earlier session high above $2,162. Gold had closed in the US last night at $2,160.36. The high seen earlier today was set at $2,162.92. The low seen so far has been set at $2,154.13. The fact that US yields are right now no higher is a supportive factor, but it is far from certain, if the metal will be able to resist further significant Yen weakness, if that plays out from here on. Gold is currently trading at $2,156.80 
 

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