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Gold runs into profit-taking above $2k for a third time
On October 27 Gold rose to its best level in over 5 months, when it reached $2,009.41. It then fell back, only to rise again above $2k on October 31, but this time it topped out a little lower, at $2,007.95. The third attempt to cement a move above $2k came on Friday, when gold reached $2,004.10. The reason for the rise this time was all due to a rather disappointing US jobs report and a subsequent further fall in US treasury yields. However, and for a third time in a row, the metal could not hold the gain and slipped back, falling to $1,986.66. It recovered slightly into the weekly close, but did not return above $2k, ending the session at $1,992.65. Gold has fallen back again so far today. The low seen ahead of the European opening is at $1,982.07, from an earlier session high at $1993.17. Gold is currently trading at $1,985.05
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