Gold steps back from another record towards $2,950

Gold was already setting fresh records yesterday when it really took off during the Asian session today. The metal had set in place a record close last night, at $2,908.26. The charge higher came as the Asian markets reopened and it saw Gold spike to a new all time high, at $2,942.68. The move came after Trump issued his warning on Gaza concerning the release of the hostages there. However, since spiking to that high, the metal has seemingly hit a bunch of sellers and that knocked it back initially to around $2,906. Another attempt on the topside stalled not that long ago just short of $2,930 and more recently it has dropped back a bit more. Gold might extend on the downside, if it takes that low out from here on. Gold is currently trading at $2,918.30