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Gold still on the rebound so far today

Yesterday as noted here, Gold managed to hold technical resistance in place from its 21 day moving average, then at $1,956.30. The low seen was set at 1956.74. The rebound that followed held water all the way to the US close, where the metal ended the session at $1,969.45, The immediate chart configuration this morning suggests it might have more traction in the short-term too. The range seen so far today has been covered by $1,965.07 to $1,971.07. The 21 day moving average is still rising steeply and in place right now at 1,961.65. Gold is subject to all the usual drivers again today, namely the USD/JPY and the micro moves in US yields. Gold is currently trading at $1,967.85

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