Gold futures and spot pricing closed moderately higher today. However, traders and investors bid the precious yellow metal lower with dollar weakness accounting for all of today’s gains.

Yesterday’s strong price decline in gold could easily be a “one and done” price dip based on today’s strong gains following the release of the jobs report for December.

Breaking four consecutive days of gains, gold prices declined today by $20 as market participants reacted to data revealing that the U.S. labor market is tighter than previously perceived.