The U.S. dollar index scored a tremendous gain, breaking above resistance and closing at the highest price point of 2018. Gaining almost ¾ of a percent on the day, the dollar gained 0.679 points and closed at 95.025.

Gold futures continues to trade under pressure, and as of 3:15 PM Eastern standard time is currently trading down $8.50 at $1,260.40. Today’s lower pricing is a combination, a one-two punch, of sellers and strong U.S. dollar.

Gold futures closed down $3.10 today, with the August Comex contract currently fixed at $1,267.60. This three-dollar decline completed a pattern that we identified last week called a "death cross".