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Gold slips as USD/JPY edges higher again

Yesterday gold caught a bid into and after the 4pm London FX fix. That saw the metal later rise above its 50 day moving average. That was in place just above $1,932 and gold rose to as high as 1,934.65 ahead of the close. The metal later set a US close, above that 50 day moving average, at 1,933.84. However, it has fallen back so far today. That has come as the USD/JPY presses a little higher so far this morning. The low seen has been set at 1,930.37, from an earlier session high at 1,934.65. The lower bound 200 day moving average is still rising and in place this morning at 1,923.45. The 50 day is pretty much unchanged and now at 1,932.05. Gold is currently trading at 1,931.25
 

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