Gold extends rebound gains to reach $2,370

A short while ago Gold extended its gains today, when it traded just above $2,370. That is more than $15 higher from where it stood at the time of the earlier update here on its immediate progress. That earlier update noted; that there was little technically ahead of $2,400 and as you can see right now, that appears to be the case, given these further gains this morning. The higher opening for the European stock markets and still elevated USD/JPY do not seem to be standing in the way of demand right now either. Of course there is no guarantee that gold will reach $2,400 today and the comments made here earlier were not suggesting it should. This metal never trades in a straight line at the best of times and today is probably no different in that respect. Gold is currently trading at $2,369.90