Gold was up 1% at the highs earlier to $2,009 but has seen price now fall flat on the day at $1,987 as we start to see a bit of a bounce in the risk mood in European morning trade. European indices have pared declines to turn positive while S&P 500 futures are down just 3 points, or 0.1%, at the moment.
At the same time, bond yields are also bouncing off earlier lows with 2-year German bond yields now up to 2.25% from a low of 2.09% earlier. That said, yields are still down 18 bps on the day though. Meanwhile, 2-year Treasury yields are down 9 bps to 3.76% but at least off its earlier low of 3.63% at the start of European trading.
