Both the dollar and gold dropped today as investors and traders wait for two important economic reports later this week. Tomorrow’s first reading of U.S. GDP for the final quarter (Q4) of last year, and Friday's PCE report for December. 

As of 4:30 PM ET, gold futures basis the most active February contract is currently up $7.30 (0.36%) and fixed at $2030.40. Although gold traded to a higher high than yesterday, gold has not fully regained the ground lost during Monday’s price decline.

Gold futures closed out the week with modest daily gains. As of 4:15 PM ET, the most active February futures contract is up $10 (0.49%) and fixed at $2031.60. Gold futures opened at $2027.40, traded to a high of $2044.90, and a low of $2022.20.