Gold dips below $2,640 as US yields rise

As the morning as unfolded, Gold has slipped and since the last update here the metal did edge above $2,655, only to subsequently fall back more than $20. In the last update, it was noted that Gold did not look great on the daily charts and it is hoped that observation might have served you will since then. One driver for the move lower has come from slightly higher US yields now today. The 10 year note is currently at 4.43%. The low seen so far has been set at $2,636.34. It is currently trading at $2,639.60 and the previously noted support and resistance levels  (50 and 100 day moving averages) remain broadly unchanged