US Treasury yields push higher- As suspsected Gold reverses earlier gains

The last time we noted the jump above the $4,200 handle in Gold following the US data releases, we did question whether the move to $4,219.33 was an overreaction. Indeed, we were of the opinion that is was, because those US Treasury yields did not actually fall back much at all, as we also noted at the time. 

Well, that 10 year yield has now risen and it is right now at 5.27% and hence well above the earlier highs and that has bitten on the markets and especially on Gold. So, the metal has now fallen all the way back to below where it was before all that US data hit the screens and just now below $4,170. Gold is right now at $4,171.50