Gold’s action this morning is very positive

Overnight demand from Asia appears to have returned: a quick note.

One of my favourite indicators is gold’s performance ahead of London’s morning fix, when overnight demand (from Asia mostly) is cleared in London. Put simply, if the price rises ahead of the fix, there has been net demand. If not, the price declines to a point where buyers might come in.

Once overnight demand is cleared, the price can fall later in the d…