Gold steady but no higher today

Gold lifted to a high at $2,655.63 yesterday. That high came as the impact of the Korean news impacted all the financial markets and sent US yields and the USD/JPY lower. Perhaps under the immediate conditions right then, it was a little surprising Gold did not make a bolder move higher. Well, it did not and as that news dissipated, Gold fell back to around $2,635. It later closed in the US at $2,643.49. It has lifted back above $2,650 this morning though, peaking a little earlier, at $2,651.44. Looking at the daily charts, the current price action is once again sandwiched in between the 50 day moving average (now at 2,668.90) and the 100 day moving average (now at 2,579.09). So, as you can see, the price action this morning is nearer the top of that range than it is to the bottom. In truth, looking at that chart, it is pretty sideways within that wider range too. The low seen earlier today has been set at $2,637.78. Gold is trading right now at $2,648.30