Gold reaches a new rebound high above $2,020

The dollar has just taken a hit lower and that has seen the EUR/USD rise to a fresh interim rebound high at 1.0969. That coupled with some further Yen strength versus the dollar and slightly lower US yields, has allowed gold to make a move above the previous interim high reached yesterday, at $2,018.21. Gold just extended that move to $2,021.47 and there was some modest acceleration in that move too, which smacks of system based buyers jumping on board when the previous high got taken out. Gold is currently trading at $2,020.05