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Gold hits session lows under $2,375 as US yields rise

Since the last update here there has been some more US economic data and that slightly missed on the downside, but not by anything remarkable. The initial reaction to the latest US industrial and manufacturing data did have a minor impact on US yields, but it has not lasted and those yields are back near session highs, at or above 4.77% in the 2 year note. That has continued to support the USD/JPY near session highs, just above 155.42. At the same time this has weighed on Gold, which is now more than $20 below its earlier Asian session highs. Gold fell below $2,375 a moment ago, falling to $2,373.45. However, the price action is jumpy and rapid right now, so if you are involved you will need to have your wits about you and exercise a good deal of dexterity. Gold is currently trading at $2,376.50 

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