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Two reasons why Gold has fallen back so far today
Gold closed in the US on Friday at $2,391.93 after just nosing above $2,400. The high set just after the European close was set around $2,402. The lack of any risk aversion and deterioration in the Middle East crisis has helped to push it lower today though. The other reason would seem to rest with a further rise in US treasury yields. The 2 Year note is now above 5% this morning. That is a drag on gold this time it seems, when coupled with a rebound in stocks and a calming in geopolitical risk aversion. So, Gold has fallen back towards $2,350 today. The low seen so far has been set at $2,360.94. It is currently trading at $2,363.30
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