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Gold rebounds with stocks as US yields drop back
That ISM service sector index missing estimates across the board certainly helped the bond markets rebound and that has pushed yields back down. This has also helped US stocks too and the lower US yields have played right into the hands of the Gold bugs. As noted here earlier, the recent pattern of $20-$30 intraday sell-offs has been a point where buyers seem to return each day and this ISM data has certainly delivered that again this afternoon. Earlier today Gold fell back just over $20, from a new record high at $2,288.40. The metal has just lifted to around $2,285 after that data hit the screens. It is currently trading at $2,278.40
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