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Gold eventually throws in the towel

Yesterday evening Gold did hold its ground well for a while even as US yields and the USD/JPY rose. However, eventually as those moved extended, Gold threw the towel into the ring and slid further below $1,940. As noted here, earlier in the evening Gold had risen to as high as 1,947.47. The slide that followed into the US close, saw it crumble to below 1,930. It later closed at 1,930.30. Earlier today Gold fell to a session low so far at 1,924.27 That means it just dipped below the still rising 200 day moving average. That is in place today at 1,924.85 However, that dip was not really a big enough breach to draw any conclusion from it. What can be said though; is that gold has reacted poorly to all that has surrounded it over the past 12 hours. The high seen so far today has been set at 1,931.63. Gold is currently trading at 1,928.60

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