Gold reclaims $2,500 as stocks rise

Gold has now made some more progress since an earlier update here this morning noted the rebound from the $2,470 low seen yesterday afternoon. Gold has just now managed to recapture the $2,500 handle. The question from here on; is can it hold onto that, or perhaps advance further? Well, that is not easy to answer right now and once again the metal is still hostage to that which surrounds it for the most part. There is no doubting the sell-off yesterday cleared out some long positions and some buyers have clearly stepped back in and it could be those are of Asian origin for the most part. The high seen so far has just been set at $2,501.60