Gold recovers Powell induced fall

It should come as little surprise to note the reaction in Gold yesterday evening to the comments from Powell and the impact his remarks had on US yields and the dollar. Yes, the metal traded lower. Prior to that it was already under pressure and an update here noted the potential for it to fall back a bit further into the month-end. Hence, Powell provided the perfect catalyst for that and Gold dipped to a low at $2,624.80. It did rebound somewhat into the monthly close, ending the day at $2,634.58. It has managed to advance a little more so far today, but not materially so at this stage. The range seen this morning has been covered by $2,632.52 to $2,643.35. It is close to that session high right now, currently trading at $2,642.55