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Gold comes unstuck again as US yields rise

Following on from the previous update, noting the rebound in the USD/JPY, it should come as little surprise to read that Gold has fallen back. The move in the Yen and gold comes as US yields rebound following that better than expected JOLTS data. Prior to that, Gold was making a fresh move to the upside, rising above $2,045. The high seen earlier was set at $2,048.63, It is now falling back to just below $2,030 once more. Hence the 50 day moving average has so far capped the fall, with a low at 2,029.16. That 50 day moving average is in place right now at 2,029.14. So, as you can see it has stemmed the fall. Gold is currently trading at $2,033.25 
 

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