Gold on the rebound this morning

On Thursday last week Gold just failed to get above the key level that has been outlined here for a while and that was a double top on the daily charts, at $2,721 and $2,726. The high seen that day was set at $2,724.76, as reported here at the time. The price action on Friday eventually delivered a further drop back, reaching a low late in the evening, at $2,699.19. Earlier in the day an update had noted the lack of any risk based drivers around to support the metal, given the further gains across the European and US stock markets. The news of a peace deal being reached in Gaza also acted as another headwind for the metal. So, Gold closed in the US on Friday, at $2,703.25. Gold fell back below the $2,700 handle again earlier today, reaching a low at $2,689.46. Well, just like BTC, the metal has lifted from that earlier low now. Gold has rebounded to a session high so far, at $2,713.81. It is currently trading at $2,711.60