Gold still spellbound by stocks

As covered here at the time, yesterday Gold managed to climb back above the $2,400 handle. The metal lifted to a high at $2,407.05, but it did not hold above that 2,400 level for too long. So, as stocks fell back, so did Gold and once again tracked the equity markets lower. Gold fell back below $2,385 and later closed at $2,382.92. It has lifted modestly so far today, but not by any measure of consequence. The problem for Gold is that it is still spellbound by the stock markets and the newly appointed inverse dynamic that has plagued it all week. The range seen so far today has been covered by $2,381.15 to $2,396.46. The metal is currently trading at $2,393.80