Gold reaches a new record above $2,535

As the Yen has now strengthened further and dipped below the 142 handle a couple of minutes ago, that was the catalyst for buyers to jump onto gold again. The metal has now lifted above the previous record high, at $2,531.75. The move through this level has so far reached a new all time record high at $2,535.29. There was clearly a decent sized buyer behind this move. It has just stopped for the time being, but given the price action and where it is right now, it might not be done with yet. Gold is currently trading at $2,534.60