Skip to main content

Gold gives it all back and more

If you are looking for reasons here to explain why Gold has slumped all the way back down after the US jobs report, then they are in short supply. Gold rose initially to above $2,320 after that data hit the screens, but it soon began to hand all those gains back and since then it has slumped to below the lows seen yesterday. In truth it looks like stops might have been tripped below $2,285. Perhaps one reason could be a move out of the haven and back into stocks to take advantage of the upside there? if that is the case, then it would kind of make sense. The other point to note here; is that gold is falling back with US yields and you do not see that kind of move every day folks! Gold is currently trading at $2,283.50 

Ready to Get Started?

Start here. Join 2.9M Libertex users around the world!