Gold futures are currently trading up $3.70 and as of 4:00 PM Eastern standard time, are fixed at $1,205. That makes for a modest gain but well below the highs achieved earlier as gold traded to $1,212.70 an ounce.

Multiple factors continue to influence gold pricing which has been under dramatic pressure since the beginning of April when gold traded to its highest value this year at $1,370.

An equal combination of both selling pressure and dollar strength have once again taken gold prices lower, resulting in gold futures breaking below $1,200 per ounce.