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Gold initially falls back with US treasures as ISM index beats the street
There have been many reactions to the US service sector ISM beat just noted in the previous update. The dollar has lifted further and stocks have rebounded across the board on the news. US treasuries are a little lower too and that is supporting the dollar as US yields rise. That in turn has dented Gold. Prior to this release, Gold was edging back above $2,650, but it is not up there anymore. This news has sent it back to around 2,640. Having said that it is just now trying to rebound from the lows a moment ago, currently trading at $2,648.70
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