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Gold slips back as Yen weakens and US yields steady

Since an earlier update here today, gold did briefly top the noted potential resistance point at 2,033.65. The high seen above there was set at 2,035.91, but it did not hang around up there for very long and since then it has turned lower once more. Another rebound in the USD/JPY now today has helped to deliver the drop and so has the fact, that US treasury yields are now trying to push a little higher. Gold is now dropping back towards 2,020 and the reader is again reminded of the important support level, at 2,009.53, should this current downdraught extend further. Gold is currently trading at 2,023.90

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