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Gold lifts again as US yields slip
As expected there have been a number of price reactions to the cooler than forecast US PPI data. The dollar has fallen versus the Yen and even the Euro now too. This is all about lower US yields just at this very minute and given the gains in US equity futures at the same time, that has allowed Gold to catch another bid. For most of the morning Gold was languishing round $2,460, but it was edging higher heading into this data release. That has now afforded it some further upside. Gold has just pushed above $2,470, as it once again moves closer to the record it set the other week, at $2,483.73. It is currently trading at $2,471.50
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The EUR/USD is on the rebound again just now. The gains come after it had earlier fallen to 1.0893. Subsequent to that fall the German Bundestag... -
US stock markets open lower this afternoon- check out the S+P 500 futures
The US stock markets have just reopened and it has been an across the board lower start to the session. The Nasdaq 100 has just kicked off at 19,657...
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Gold rises above technical resistance to set a new record high this afternoon
Since the last update here on Gold, the metal has now tested and taken out the noted trend line resistance level, in place around $3,029 per ounce...
