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Gold edges back below $1,820

The drop back in Gold seen yesterday did deliver a slight fall below $1,815, but it did not extend much at all, as was covered here at the time. Gold based out at $1,813.16. The rebound that followed was all due to the USD/JPY dropping back with US yields yesterday afternoon. That allowed gold to push back to around 1,820 and later close in the US at 1,820.30. It has pressed a little higher earlier today, reaching a session high so far of 1,824.58. It has backed off from there now though, as the USD/JPY rebounds again. Overall, little has changed in terms of the wider dynamic and gold still needs a more supportive backdrop, if it is to stage a more convincing rally. The low seen so far today has just been set at 1,818.75. It is right now at 1,818.85
 

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