Although gold futures closed higher for the first time in the last three sessions, any gains realized today were fractional at best. As of 4:00 PM Eastern standard time, December Comex gold futures are currently fixed at $1,201.30, which is a net gain of $1.50 on the day.

In lighter than usual holiday trading, gold futures are trading just above $1,200. As of 4:30 PM Eastern standard time, gold futures are up $0.30 and currently fixed at $1,200.70. Spot gold is currently fixed at $1,195.10, after accounting for a net decline of $1.10 today.

Undeniably the most important economic data to be released this month is the U.S. Labor Department’s jobs report which came out today. Economic estimates for new non-farm jobs for the month of August came in at 190,000. The actual data released today came in above expectations and forecasts revealing that 201,000 new nonfarm jobs were added last month.

Gold futures are currently trading up $3.70 and as of 4:00 PM Eastern standard time, are fixed at $1,205. That makes for a modest gain but well below the highs achieved earlier as gold traded to $1,212.70 an ounce.

Multiple factors continue to influence gold pricing which has been under dramatic pressure since the beginning of April when gold traded to its highest value this year at $1,370. Gold futures closed below $1,200 per ounce in trading activity yesterday, but today’s fractional gains have moved pricing back above that key psychological level.

An equal combination of both selling pressure and dollar strength have once again taken gold prices lower, resulting in gold futures breaking below $1,200 per ounce. Most active December Comex futures are currently trading off $9.30 on the day and fixed at $1,197.40.

Gold prices continue to be pulled by outside factors such as a strong dollar and dynamic U.S. equities markets creating a favorable and continued risk-on market sentiment. Today traders and investors bid gold prices higher with a strong U.S. dollar of equal force negating any realized gains.

As of 4:00 PM Eastern standard time, spot gold is trading just above $1,200 at $1,200.09. This occurred after trading to a low today of $1,196.45 before slightly recovering. Although dollar strength can be cited as an underlying force, it is selling pressure that is dominating the markets today.

Both the NASDAQ Composite and the Standard & Poor’s 500 closed at new record highs today, with tech and oil stocks fueling this most recent rally. The NASDAQ, which broke above 8,000 earlier this week, hit a new milestone today as the tech-heavy composite index closed above 8,100.

Gold futures are trading under pressure today with the most active December Comex contract currently down $8.80 (-0.72%) and fixed at $1,207 20. After gaining over $20 in value on Friday, gold tracked fractionally higher in trading yesterday. However, closing occurred below a key technical resistance level at $1,217 per ounce.