As of 4:00 PM EDT, gold futures basis the most active December contract is up $5.80 and fixed at $1992. Gold futures did trade to $1998.60, just $1.40 under the key psychological of $2000 per ounce.

Investors have momentarily shifted their attention away from the geopolitical crisis in the Middle East to focus on two important reports.

Gold prices, both physical and futures, are down about $8.00 to $9.00 today. However, one of the largest contributors working to lessen the price decline is dollar weakness.