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Gold sleep-walking lower so far this morning
Yesterday the combination of a weaker dollar and lower US yields helped gold to lift above $2,350, but in truth the move was pretty laboured and not exactly dynamic. Gold later closed in the US at $2,350.75. Earlier today the metal peaked at $2,352.87 and over the past couple of hours it has been falling back. To be honest that looks rather odd, given all that is surrounding the metal right now. If you are scratching your head over that, then you are surely not alone. Now sometimes gold can take a while to wake up and right now the price is sleep-walking lower. So, we shall have to see if the current moves outside of the metal extend and whether or not that brings gold buyers back to the table. Outside of that, the outlined 2,314-2,364 range has remained intact since it was identified here yesterday. As to what happens next remains to be seen. Gold is currently trading at $2,342.80
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