Gold continues to press higher this afternoon

For much of the morning Gold seemed to be treading water just above $2,910. More recently the price has started to rise, following a brief dip to around $2,907 a couple of hours ago. Gold just now reached a new session high, at $2,918.90. It is not far removed from that high right now. That gain comes even as US yields continue to press higher. That pretty much underscores what happened earlier in Asia today. This rather contrary price action is perhaps evidence that large scale buyers might have returned, but that is suggestion and not based in any kind of fact. The drop back the USD/JPY just now might also be a driver for the session highs a moment ago, otherwise the rise makes little sense. Despite making further progress now today, the metal still has major lines of demarcation at $2,864 and $2,942 to contend with. It is currently trading at $2,916.90