Gold slips and rebounds in Asian trading

Yesterday the fall in US yields and the slide below 152 in the USD/JPY continued to support gold. The metal lifted above $2,650 and peaked at $2,658.25. However, the rebound in the dollar later yesterday evening pushed Gold back down into the US close, where it ended that session at $2,636.02. Earlier this morning it extended that downside move, hitting a session low at $2,621.05 as the dollar steadied a bit more. It has come off that low now. As covered here yesterday, the price action so far this week is very much still camped in a wider range, defined by its 50 and 100 day moving averages (in place this morning at 2,668.65 and 2,570.90 respectively). Gold is currently trading at $2,636.60