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Gold not impressing much this morning

Yesterday the price action in Gold was surely a disappointment to fans of the metal. The rise seen on Wednesday, to just short of $2,330 was not extended upon yesterday and the slide back underneath $2,300 came even as US yields and the USD/JPY fell back. Gold fell to $2,285.60. It did rebound from there into the close, but given all that was going on around it, so it should have. Gold closed last night at $2,303.93. The fact that US yields have not risen today and the USD/JPY was back below 153 earlier only delivered a high for Gold at $2,308.80. It is edging lower just now. The metal will react later today though, when that US jobs report hits the screens and then after that, when the ISM data does the same. Right now though, it is rather muted for sure, inside a wider range currently defined by $2,280 and $2,330. Gold is currently trading at $2,300.90  

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