Gold buyers find another excuse to get involved

Yesterday Gold stalled a couple of times above $3,030 and then fell back into the 3pm London Gold fix. The metal later closed in the US at $3,019.38. The price action since that close has seen it rebound again and that has delivered a fresh high on the week, at $3,038.67. Of course the whole risk vista and Trump related news seems to have provided fresh reasons to hoard the metal and that is understandable. However, if stocks really start to crumble again at some point today, then the usual caveat might apply, if holders are forced to liquidate in order to cover stock losses. That said, there is no immediate indication that is what might unfold, but it is a possibility that only time will tell on. Gold has backed off slightly now this morning and fallen back towards $3,025. It is currently trading at $3,028.05