Gold traders juggle risk and capital preservation as volatility remains high

An update here much earlier this morning primed readers to expect some rapid swings and price action in Gold today. Well, since then we have already had a good degree of that. Following that update gold lifted towards $3,135 again. However, since then it has turned lower once more and that price seems to suggest; that on the one hand gold traders are concerned about risk, especially later today, but on the other hand equally concerned about protecting their profits. There are seriously profits out there for those larger players that have held this for a long time now. So, Gold has backed off close to $3,110 not long ago, only to bounce back above $3,120 just now. So, there you have it folks- price action in spades and more to come by the looks of it. Gold is right now at $3,123.40 and immediate lines of demarcation look to reside at $3,100 and $3,150