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Gold throws in the towel as USD/JPY approaches 149

Until a few moments ago Gold was holding its own pretty well, even as the USD/JPY extended a move higher above 148.80. However, in the past couple of minutes, the metal has just capitulated to that dollar strength. The move through 1,920 per ounce was pretty rapid too. The low seen so far has been set at 1,915.22 and the price actions smacks of stops being tripped through 1,920. It is under pressure again ands given the gains in the dollar right now, one cannot rule out a move to below the previous interim low set last week, at 1,913.97. Gold is currently trading at 1,916.80

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