Gold extends record gains to above $2,860

An update here yesterday on Gold noted how the metal had seemingly attracted a buyer from the blind side and that was later confirmed in a further update, endorsing the observations made earlier in the day. Well Gold later posted a record US close last night, at $2,842.71. The price action so far today has seen it feed positively from further Yen strength. That has allowed gold to set yet more records today. The metal has lifted above $2,850 and then above $2,860. The high seen earlier this morning was set at $2,861.93 The earlier session low prior to that new record was set at $2,839.76. Technically the metal is not yet critically overbought yet either. The 14 day RSI (Relative Strength Index) is right now around 75. Gold is currently trading at $2,860.50