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Gold mostly holds pre weekend gains in Asia today
On Friday the combination of a rather weak US jobs report and the subsequent drop in US yields that delivered helped gold to trade to its best levels of the week. Gold rose from an earlier session low at $2,351.80, to a high at $2,392.97 just ahead of the US close. Gold closed on Friday at $2,392.16. There was also a degree of buying ahead of the weekend French election. The range seen so far today has been covered by 2,380.80 to 2,391.16. It is nearer the low of that range right now, but it is far from detracting from the gains seen at the end of last week. Once again the price action in the US bond markets will play an integral role in deciding where Gold trades to as the week unfolds. The Yen is stronger this morning too and that is an immediate positive for the metal too. Gold is currently trading at $2,383.15
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