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Gold hits session lows as dollar edges higher

The dollar is now coming off its earlier lows versus Europe and the rebound above 147 earlier this morning seems to be holding fast. Meanwhile, US treasury yields are not much changed from where they have been camped all morning. However, that has not helped gold much over the past hour or more, as the metal now drops close to lows seen yesterday. It has just now set a fresh session low at 2,021.63. That low is now some $20 below the highs seen earlier today during the Asian session. The next important support level remains the 2,020.20 seen yesterday and after that, the even more important correction level at 2,009.53 Gold is currently trading at 2,023.90 

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