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Gold falls back again as risk aversion fails to show up yet

Earlier today Gold did make some further progress, but it was limited and capped just above $2,325 ( the high seen was set at $2,327.65). Well, since then it has recently suffered another relapse. The modest rebound in the European stocks into the close has helped dampen any risk haven based demand and so far the rise in US yields has also had a negative impact on the metal. The US 2 year note is now above 4.75%. So, the combination of those two dynamics has pushed gold sharply lower in recent trading. The metal has fallen back to set a new session low at $2,310.10 a short while ago. It is currently trading at $2,311.55

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