Although gold futures closed lower on the day, they did so with a higher low as well as a higher high when compared to Tuesday’s price range. As of 3:20 PM EDT June futures are trading down $3.90 and currently fixed at $1281.70.

Even though gold only gained fractionally on the day, it is showing some signs that it is acting once again as a safe haven asset.

Gold did not exhibit any real follow-through buying after Friday’s dynamic upside move. On Friday gold futures traded from $1271 and closed at approximately $1281 with a respectable $10 gain.