Gold stalls ahead of $2,314

An update here yesterday noted how gold was edging its way higher towards $2,300. It was also noted here at the time; that any move above that level might deliver a further push to test the  resistance level at $2,314. Well, eventually that is exactly what played out. Gold rose to a high at $2,313.82 just after the 4pm London FX fix. So, as you can see, that $2,314 level capped the topside for the day and the metal later closed in the US at $2,310.88. Earlier today Gold fell back to a session low at $2,298.86. It is back above the $2,300 handle now though and so the $2,314 remains in focus on the topside again today and the low seen yesterday, at $2,287.83 is the focus in the other direction. Gold is currently trading at $2,301.40