Gold on the rebound so far today but will it last?

Gold has traded just above the $2,650 handle so far today. The price action since the very start of the week has been defined by $2,622.00 and $2,652.80 ( the highs and lows seen in the Asian session yesterday). So, in that sense, the rebound from a low seen earlier this morning has yet to break any fresh ground. What was also interesting; was the slide in the USD/JPY into the 4pm London fix (crumbled to 149.08) yesterday afternoon did not deliver a push above $2,650. What is also clear, to a degree is the record gains across some European and US stock markets yesterday has probably dented any immediate demand for the metal as hot money heads to stocks instead of havens. As to how that will pan out today is not clear at this stage, but it could be replicated. The range seen so far today has been covered by $2,634.19 to $2,650.10. Gold is currently trading at $2,646.50