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Gold extends gains above $2,800 ahead of key US data
Earlier this morning Gold pushed above the earlier noted high around $2,801. The metal reached a new record high, at $2,807.87. Now that we are into uncharted territory once again, after taking out the 2024 record high, at $2,790.10, it is hard to say where the next resting point might be. Of course gold will react to any surprise in the US PCE data and it could take a lead from the US bond markets. So, if you are involved in this one, then keep an eye on those yields after the data hits the screens, because they could act as a short-term indicator. Gold is currently just off its new record this afternoon, trading right now at $2,804.25
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