Bullish Gold runs out of steam at $1,957; currently at $1,946 per ounce

A quick look at yesterday: after ending Thursday at $1,943.7, Gold went up to $1,957 only to drop back, yet still traded well overall and closed at $1,946 per ounce yesterday.

CME Gold upside coincides with further encouraging market factors as data from United States concerning Core Durable Goods Orders was released yesterday at 12:30 UTC. Newly published figures emphasized continued decline from last month's figure of 0.3% to -0.2% this month.

Meanwhile, United States Core PCE Price Index (MoM) (Apr) came out at 0.4, while a consensus of analysts was expecting 0.3. United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 193,100, while the previous figure was 191,500.

This rally in Gold's price coincides with other Metals as Copper went up by 2.33% yesterday, and closed at $3.67. Silver is trading around $23.45 after ending yesterday's session at $22.91 (up 2.34% today).

Having set a significant high of $2,058.7 23 days ago, Gold is trading 5.59% lower.