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Gold reclaims $2k as USD/JPY and US yields fall
The other notable reaction to the weaker than expected US jobs report has helped Gold to reclaim the $2,000 mark once more. The move higher is being driven by the more usual combination of a lower USD/JPY and both moves are being fuelled by the rising US bond markets and corresponding lower yields. Gold was trading at around $1,988 ahead of the US jobs data. It has risen to as high as $2,003.84. However, it remains to be seen if it can sustain this rebound and of course the USD ISM index (at 2pm GMT) might have a say in that later. Meantime, gold has the ball and it is running with it for now. Gold is just now trading at $2,003.60
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