Gold recovers more as US yields slip

Following on from the previous update noting the fall back in US treasury yields now this afternoon, Gold has lifted to fresh European session highs just above $2,565. Actually, what was interesting; is the metal did not back off at all even when those yields initially rose. Well, since then and the fall back, by around 0.07% in yields, gold has lifted. The metal just now almost touched $2,566. Earlier today Gold fell back underneath its 100 day and 200 week moving averages. The low seen was set at $2,536.92. As you can see it has now rebounded almost $30 off that low. Gold is currently just backing off a bit from that level and the price action is a little tricky to decipher quite honestly. Gold is right now at $2,562.20