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Gold rebound peters out

As the dollar got smashed and US yields crumbled yesterday afternoon, that was the prefect set of conditions to push Gold higher. As noted at the time, Gold did rise, but given the moves that surrounded it, the metal seemed to lag. However, eventually it did rise above $2,340, reaching a high at $2,341.68. A subsequent drop back towards $2,320 was then followed by another topside attempt, but that stalled short of the earlier high and then as the dollar and yields rebounded Gold was upended. It fell back into the US close, ending that session at $2,324.98. That rather disappointing close has delivered more downside today and Gold has fallen back underneath that $2,314 level once more. The low seen earlier today was set at $2,308.23. Gold is currently trading at $2,310.50

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