Gold extends gains as US jobs report looms

Since an update here much earlier this morning gold has made more progress. A moment ago, the metal rose to a session high at $3,269.31 and it is not far off that right now. The technically close last night above its 21 day moving average surely helped. Incidentally, that moving average is in place right now at 3,235.65. Gold has rebounded despite the still positive risk backdrop and gains in the equity markets this morning, especially here in Europe. Gold is going to move this afternoon folks and judging by the price action so far this week, it could see some really rapid moves, especially if there is a surprise in that US jobs report. Gold is right now at $3,265.50