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Gold extends rebound gains closer to $2,700
The rebound in Gold noted yesterday saw the metal rise just above $2,673 and later close in the US at $2,669.72. Today it has extended that move higher and lifted to a high so far, at $2,693.35 a short while ago. The push higher in Gold has some loose connection with the moves playing out in BTC today and it comes despite further dollar strength versus Europe. There is also an element of pre-weekend demand for reasons which should appear obvious. The further rebound gains are still corrective but it might not take much of a move beyond $2,700 for that to become more dynamic. We shall have to see on that, but it would also be logical to expect some resistance at least around that $2,700 level, if seen later today. Gold is currently trading at $2,691.15
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