Gold rebounds in Asian trading today

Gold closed on Friday at $2,936.05. That close came after an earlier session low at $2,916.84. Earlier today the metal opened around $2,935 and then fell back as risk aversion improved significantly after the German election result became known. So, Gold dropped, hitting a low at $2,921.48. However, it did not stay down there for long and it has since risen to a session high $2,944.76. Overall, it you look at the price action since this time on Friday morning you will see that is it not much changed this morning. To be honest, given the fall in US yields there is an argument to support the metal being higher than it is right now, but we have to remember, just how elevated it is overall anyway. Gold is right now at $2,939.70