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Gold edging lower this morning

Yesterday afternoon an update here questioned whether there was enough gas in the tank to deliver a sustained move above $2,350 in Gold. well, subsequent to that update, the metal did briefly top that level, just touching $2,352. However, as suspected it ran out of steam up there and drifted back into the US close, where it later ended that session at $2,343.07. Earlier today Gold tried to raise back above $2,350 again, but it stalled at $2,347.79. The metal has just now dipped below $2,340. Just like pretty much everything else out there at the moment, Gold will react to the US PCE data later today and beyond that, the direction of travel for US treasury yields. Right now those yields have been pressing higher this morning and that has weighed on the price action. The low seen so far this morning has been set at $2,337.12. Gold is currently trading at $2,341.90

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