Gold now rallies to a fresh record highs above $2,485

Following a slightly earlier update, noting the further gains in Gold, the metal has now pressed on to reach a new all time high above $2,489. The move higher comes as fresh buyers continue to head back into the metal ahead of the weekend. As noted in the previous update on the metal, the drop back in the USD/JPY this afternoon has certainly helped and it seems that buyers are not taking any chances ahead of a possible risk event that might unfold when the markets are closed. As for how far gold might extend this new record move is unclear, but it sure has the wind behind now this afternoon. Gold is currently trading at $2,489.80