Gold edges above $2,500 this morning

Yesterday afternoon Gold seemed to have all the latest US economic moves and fall in the dollar very much in its favour. However, and despite quite a few attempts to vault the $2,500 handle, the metal was not able to push above that level. Gold later closed in the US at $2,495.72. The further fall in the USD/JPY has now helped Gold to push above $2,500 this morning, as it seems to remove any further selling interest around that level. The lack of traction in recent days is a little odd given the recent stock markets relapse and drop back in the USD/JPY and perhaps that is a warning of longer term exhaustion in the price action? Perhaps we should remember that $2,500 was many leading analyst calls for the metal in 2024. Gold has just lifted to a session high at 2,505.30 and we shall see if it can add further gains now it has reclaimed that $2,500 handle