Gold lifts above $2,314 and extends at the second time of asking

Earlier this afternoon, as the European stock markets and US futures came under further pressure, there was a degree of risk aversion impacting the markets and that sent flow back into US bonds. Hence, US yields fell back and that was the catalyst to drive a move back into Gold. So, the metal lifted above the high seen yesterday, at $2,313.82 and then above that noted $2,314 level. The extension through that price point seemed to attract fresh system based buyers and may have tripped stops that were put in place after the price failure there yesterday. So, Gold extended to a high at $2,319.98. It is off that high just now but since busting back above $2,314, that price point has capped any dips thus far. Gold is currently trading at $2,315.80