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Gold treading water so far today
Yesterday the price action gold was again surrounded by $1,815 and $1,830. That has covered it again so far today, as the metal keeps a very close eye on the price action in the USD/JPY and remains subject to any sizeable shift in the US treasury yields. Gold closed in the US last night at $1,821.36 and it not too far away from that close right now. The range seen so far today has been covered by $1,819.73 to $1,829.23. The recent interim low was set earlier this week at just above 1,815 and so far that is still capping the downside. It looks like a break below there, or above 1,830 might deliver an extension in the price action, but that is not set in stone by any means. Gold is currently trading at $1,821.70
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