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Gold surges to a new record close to $2,400

Gold was already setting fresh records yesterday evening, when it lifted above $2,370 and later closed in the US at $2,372.52. It then extended on that record close earlier in the Asian session today, reaching $2,395.48, It has backed off a bit since, but remains highly elevated and once again we look to central bank buyers being behind the move. To be honest, the way things look right now, there is no reason to suggest the metal cannot have a look above $2,400 at some point today because once again it is disregarding all the usual dynamics, such seems to be the demand. US yields are higher and the Yen is lower, but right Gold does not seem to care about those. The low seen earlier today has been set at $2,371.38. It is currently trading at $2,389.20

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