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Gold reclaims $2,450 despite further Yen weakness
As noted here much earlier today and previously on Friday, the rebound in Gold continues to focus on the risk dynamic and not the bounce in the USD/JPY, or US yields. Of course the rebound in the Dollar would appear to owe much to those higher yields, but at the same time, in terms of dynamics, this rebound looks to still be corrective to the hammering the dollar took last week. That said the Gold price continues to ignore all this for the time being and just now the metal managed to reclaim the $2,450 level. That is its best best levels since it crumbled from a new record high this time last week. Gold has just hit a new session high, at $2,451. It is currently trading at $2,450.90
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