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Gold reversal extends further towards $2,925 as USD/JPY rebounds
Following on from the penultimate update noting the further fall in the USD/JPY, the dollar has now rebounded and it is lifting back towards 150.25, from an earlier noted low, at 149.71. That move has dented the EUR/USD and halted the rise above 1.0450. It has also not done gold many favours either. As mentioned (as soon as the news broke on regarding the comments from the US Treasury Secretary, Scott Bessent) here earlier, Gold has fallen back and now it iras dropped below $2,930 and close to $2,925. The combination of the rebound in the USD/JPY and those earlier comments seems to have forced more profit-taking on the metal. Gold has fallen back some $30 below the earlier record high seen today. It is currently trading at $2,927.70
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