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Gold stumbles again
Yesterday afternoon we covered the move higher in Gold again. That came after the US PPI evidence further slower US inflation. So, Gold, which had stumbled the day before above $4,100, rose once more. That rise saw it jump back above $,4080, from earlier levels below $4,030.
However, for a second day in a row the metal could not hold the rise and fell back. Gold closed in the US last night at $4,060.55. That failure to recapture the $4,100 handle has seemingly done it few favours so far today. Gold has fallen back once more, trading as low as $4,024.43- underneath where had been before the PPI data saw it rise. So, that is not a positive anyway one tries to spin it. The earlier session high was set at $4,066.57. Gold is currently trading at $4,028.40
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