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Gold rebounds from session lows as European stocks open in the red

Earlier today gold fell back to an Asian session low at $2,322.79. The metal had closed in the US last night at $2,338.12. The fall earlier today seemed rather at odds with what was unfolding in the equity space and the losses in the US and Asia. Perhaps the best explanation for that would be to blame it on higher US yields? Well, as the European stock markets reopen, gold is bouncing now. It is not exactly roaring though, but there is an argument for gold if risk aversion does deteriorate significantly from here on. That might eclipse any negative yield dynamic, but we shall have to see on that as the European markets get underway right now. Gold is currently trading at $2,333.40

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