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Gold hands back earlier gains as US yields nudge higher
Over the course of the past hour and half Gold has fallen back. Earlier the metal reached a rebound high at $2,626.50. That came around mid-morning here in Europe. The price action since has seen it fall back close to the $2,600 right now. The driver for that seems to come from a rebound in US stock futures, but more likely as US treasury yields edge towards 4.54% in the 10 year note and that is close session highs. It also seems likely that those punters who did not capitulate last night have used the rally seen earlier today to get out. Gold is currently trading at $2,604.80
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