Gold extends fall to below $2,900 but it is off that low now

Well, you were alerted to something rather strange going on this afternoon in Gold and since then the metal has taken another lurch lower. This time it has fallen back even harder and dropped below $2,900 and close to $2,890. The reason for the fall looks to be the same as identified here earlier- a large punter off loading stock. The fact that this almost $50 fall from the high now comes as the Yen remains firm and US yields have not bounced. That said Gold has bounced now and pushed back above $2,900. The low seen a short while ago was set at $2,893.07. There is now the real live prospect of a significant double top being set in place now on the daily charts above $2,940, at the $2,942.68 record high and the $2,940.03 top set today. Gold is currently trading at $2,905.60