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Gold still struggling for traction this morning
An update here yesterday afternoon noted that Gold was falling back from an earlier session high above $2,034 and dipping just below $2,030. That relapse subsequently extended to just below $2,020 (2,019.70 the low) right after the 4pm London FX fix. It did manage to rebound somewhat into the US close, where it ended the session at $2,024.39. A little earlier this morning, the metal dipped below 2,020 once more and took out all the most recent lows, when it reached a session low so far at $2,018.28. It is trying to lift off that low right now, but once again I stress the importance for anyone trading this; to keep an eye on those US yields and the USD/JPY. However, it is still below its 21 day moving average as I write this update. That is in place right now at $2,024.54. Gold is currently trading at $2,021.30
Market News
All News-
Brent crude falls below $71 per barrel again
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US stock markets open higher as dollar pares gains-check out the Nasdaq 100
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Gold grinds its way back above $2,500
Since an earlier update here Gold has now managed to vault the $2,500 handle. The move higher has been gradual and comes as stocks turn down in recent...
