Gold continues to set new records today

Since the last update here noted that Gold had risen to set a fresh record above $2,513, the metal has been making further advances and so far the last new record reached today has been set at $,2526.19. It is below that level a bit right now, but it is also keeping a close eye on US yields and the stock markets and of course both eyes fixed firmly on the USD/JPY. The technical situation for gold shows that it is not yet overbought in terms of its RSI (Relative Strength Index) and so that is not a barrier to further upside. The only problem when something moves into uncharted territory is for technical traders trying to pin down levels. That said there is always a bunch of players that will simply shut their eyes and go with the flow. Gold is currently trading at $2,524.75