There are opposing and opposite forces currently at play affecting gold prices.

Prices have struggled to regain a foothold at or above $1300 per ounce since May 15, when gold dropped over $28 in a single day. Since the selloff, there have been multiple occasions in which gold has effectively traded to or closed just above $1300.

Gold finished under moderate pressure today as U.S. equities moved higher. The NASDAQ composite closed at an all-time new record high today as the tech heavy index continued to react to the favorable jobs report on Friday.