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Gold yet to recover $2,000

Yesterday gold fell back a little more after an update here noted it had edged below a technical support level in overnight trading. Gold later dropped further below that 100 day moving average (then at exactly $1,990). The low seen was set at $1,984.34. However, it later rebounded somewhat, as US yields dipped and the dollar slipped. Gold closed in the US back above that technical level, at 1,992.33. It has held a tight range so far today, with 1,990.30 to 1994.40 covering for now. That moving average is still rising and in place right now at 1,990.93. So, as you can see it has pretty much capped the downside ahead of the European opening, but at the same time, gold has still not made any serious attempt to reclaim the $2k level. It is trading just now at $1,993.35

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