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Gold extends gains as US yields fall

So, with the Dove cooing loudly to the press right now US yields are falling back even further and that has fuelled the move higher in stocks and sank the dollar again for the time being. The fact that the Fed reduced its balance sheet run-off is a factor at play this evening and being taken by the markets as a dovish sign. To be honest this press conference from the Fed boss is clearly at odds with several of his colleagues and it remains to be seen if he will have to pivot more on that in the weeks ahead- we shall see. So, with the 10 Year note now some 0.10% lower and the dollar falling and stocks rising, this has played nicely for Gold. The metal has taken full advantage of that which surrounds it right now and jumped above $2,325. The nest potential resistance level of note from here on is once again the 21 day moving averages in place right now at $2,340.25. The high seen so far has been set at $2,328.38. It is currently trading at $2,327.60

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