Gold extends rebound to above $3,175

Since the last update here noted gold just beginning to rebound from a new interim low around $3,120, the metal has advanced by more than $50. The price has pushed back above $3,175 and that continues to highlight the extended daily ranges we are seeing on a daily basis at the moment.  That makes this rebound not out of context and as such it is pretty consistent. The only question to ask right now; has Gold corrected enough from $3,500 to $3,120 or is more still to come? Well, all the while it holds below $3,202 the risks remain in place, irrespective of this current bounce. Gold is right now trading at $3,175.30