Approximately two-thirds of today’s price decline in gold futures can be directly attributed to dollar strength. The dollar index continues its strong price advance gaining 0.66% in trading today, while June 2022 gold futures declined by 0.95%.

Gold futures opened at $1899.60, traded to a low of $1896.30, and then recovered back above $1900 per ounce. As of 4:18 PM EDT gold futures basis, the most active June 2022 contract is currently trading up $9.30 and fixed at $1905.30.

As of 4:00 PM, EDT gold basis the most active June 2022 futures contract is currently just under $1900 at $1899.40. That is a net decline of $35 or 1.82%.