Gold edging lower as European stocks hold modest gains

Since the European opening this morning Gold has been falling back. An earlier attempt to push back above $2,520 has now given way to a move towards an earlier session low near $2,505. The European stock markets have made some modest progress during this time and the dollar is no lower and those dynamics have helped to push gold back down. The $2,500 handle remains intact though, as indeed it did yesterday afternoon. However, at the same time, it is not guaranteed to remain so. That would really seem to depend on how those other markets fare right now. Gold is currently trading at $2,506 35