Gold slips to test $2,750 this morning

On Friday Gold reached a new 2025 high at $2,786.01. That high was reached just ahead of the 4pm London FX fix. The metal then drifted lower into the weekly close, where it later ended the day at $2,770.58. The earlier high was pretty close to the record the metal had set last year, at $2,790.10. Well, as you can see, the metal rejected a potential move above that, to set a new all time high so far in 2025. That does not mean to say it has finished with any further attempts in that regard, but for the time being the effort has been thwarted. So, Gold has fallen back this morning and of course we have the Fed policy decision on Wednesday evening, which may decide, if a new all time high is well and truly on the back burner for the time being. There will be plenty to add on that policy decision over the next 3 days. So, Gold has fallen back to $2,750.92 this morning. The earlier high was set at $2,772.61. Gold is currently trading at $2,753.15