No new record for Gold on Friday and not yet today either

Despite continued to solid demand for Gold on Friday, the metal was unable to rise above the record high it set the day before, at $2,685.58. The high seen on Friday was set at $2,674.31 and the metal fell back to set a low at $2,643.20 after the European close. Gold later recovered some some of that fall, but still closed $14.14 lower on Friday, at $2,658.24. Overnight the metal initially lifted to $2,666.05 only to fall back as the USD/JPY rebounded. The low seen was set at $2,647.45. However, it has lifted off that low now, as the dollar drops below 142. Arguably it could be doing better than it is right now, given the weekend events in the Middle East and the price of the USD/JPY since this time on Friday. Perhaps we have to remember where we are in the calendar and where the metal is in terms of all time records too. Gold is currently trading at $2,657.35