Gold falls back after $2,500 after stalling at $2,500 earlier today

As covered here on Friday, gold failed again to drive home what seemed a like an immediate, relative advantage and set a new all time high. The high seen on Friday was set at $2,529.25- once again just a couple of bucks short of $2,531.75. A number of updates here earlier last week did question whether, or not Gold has peaked above $2,500 this year and the price action all last week certainly seemed to endorse such a possibility. The fall back from 2,529.25 later saw the metal take out the 2,500 handle and then slide to a session low at 2,485.21. A modest rebound into the close saw it end the week at $2,497.41. The thing is; US yields tanked even more on Friday as stocks eventually fell back and that would normally have supported Gold, as would the surge in the Yen. Well, as you can see, it simply did not happen. In fact the opposite played out. That in itself is surely a concern? So, perhaps gold has hit a watershed above $2,500? It is also highly likely that once again (as per on August 5), profitable Gold holdings were liquidated in order to cover losses on stocks? Overnight Gold has lacked direction, but it is just now hitting session lows, at $2,487.82. The high seen earlier today was set at $2,500.50. The metal is currently trading at $2,489.35