Although the dollar traded fractionally lower on the day, it is the highs achieved today along with the inability to sustain those new price highs that created a single day candlestick known as a shooting star.

Gold, silver, and platinum have closed lower today. However, gold is the only precious metal to have any selling pressure. Traders have bid the precious yellow metal fractionally lower today (-$0.40).

Any hope for potential support and subsequent reversal in gold was short-lived as a strengthening U.S. dollar and a predominantly bearish sentiment took prices lower today.