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Gold slides and then rebounds on CPI report
Much earlier this morning Gold managed to take advantage of the relapse in oil prices and gains across the European stock markets and US futures. Prior to that it had traded as low as $4,300.95 during the Asian session. The subsequent European high was set at $4,360.88, but it was stepping back leading into the CPI report, trading close to $4,325 at one point.
The immediate reaction to the CPI data has seen the metal fall like a stone below $4,300, but it has bounced almost as quickly. The low seen was set around $4,290. Gold is right now at $4,338.50
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