Gold repeats the pattern again

Yesterday Gold set a new all time record high at $2,353.95. That was during the Asian session and of course reported on here later in the day. The price action that followed saw Gold edges back from that new record high. The metal later fell to a low at $2,318.90, before rebounding after the 4pm London FX fix and into the US close. Granted, the sell-off from the top to the bottom of that range was more than $30, but it pretty much replicated the recent pattern of $20-30 sell-offs attracting buyers back on dips. Gold later closed in the US at $2,339.03. It has pressed a little higher again so far today. The high seen so far has been set at $2,348.50. Gold is currently trading at $2,344.80