Gold licking its wounds this morning

As you know Gold came rather unstuck yesterday. The reasons for that were clearly laid out here and following an update here noting the metal falling towards $2,680, it dropped back further and fell below $2,660. Gold later closed in the US at $2,659.06 Price action earlier today saw it set a fresh Post Trump election victory low, at $2,643.47, but it has rebounded off that low just now, heading into the European opening. The fall earlier today saw Gold come close to a test of its 50 day moving average, in place right now at $2,638.85 and that remains a potential support level, should this modest rebound give way to another push lower. On the topside the reader is again reminded of the 21 day moving average that was busted yesterday. That is in place right now at $2,711.25. Gold is currently trading at $2,656.50