Any hopes that the U.S. dollar would continue to trade lower after yesterday’s weakness was short-lived.

On January 31^st, 2019 gold hit its highest value this year when on an intraday basis gold future traded to a high of $1330 per ounce. From there pricing began an extremely shallow retracement trading as low as $1306 on February 7^th.

Once again it is dollar strength that is the primary force influencing current precious metals pricing.