Gold finds its feet again as dollar gets thumped and uncertainty rules

Last Friday gold fell to a new interim low at $2,832.71- a fall of some $124 from the record high it has set earlier last week, at $2,956.18. The rebound that has taken place since saw gold rise to $2,929.95 yesterday. The metal later closed at $2,919.39. The range seen so far today has been covered by $2,914.71 to $2,926.65. So, it has yet to threaten the high seen yesterday, but with such uncertainty abounding across the markets, it would seen unwise to rule out a test of that rebound high at some point today. The fall in US yields so far this week has clearly been a driver behind the rebound, as investors look to where they can park their money in these highly uncertain times. Perhaps the only thing to consider in all this is the lofty levels for Gold right now. Outside of that the attractiveness of the metal seems to speak for itself really. Gold is currently trading at $2,920.85