Gold holders get a little more nervous

Yesterday Gold not not able to make any progress beyond $2,750. The metal peaked at $2,748.22 just ahead of the US stock market opening. It later closed in the US at $2,736.78. Earlier today the metal fell back to set a session low at $2,724.79 and that low matched a low seen last on October 28. It has rebounded off that low just now, but the ideally needs to climb back above $2,763 in order to possibly recapture the uptrend. Of course the longer-term trend remains intact overall, but there is also potential for longer term holders to further exit the trade over the next couple of days. The high seen so far today has been set before the low was set in and that was at $2,738.17. The metal is currently trading at $2,733.85