Gold rebounds from month-end slide

Yesterday morning an update here warned readers of the prospect of Gold setting in place a double top on the daily charts around $2,790. Well, as you can see now, that is exactly what it did. The slide that followed smacked of a serious order to bank what have been stellar gains in recent days and weeks. Gold fell back to a low of $2,731.65 right on the 3pm London FX fix for the metal. Gold later closed in the US at $2,743.97. The recovery from the lows seen yesterday afternoon has been extended today and that has seen Gold rise to a high at $2,757.73. It is just off that high now though and currently trading at $2,752.40