Gold is trading under pressure today, currently trading off by $7.80 and fixed at $1,310. As of 4:51 PM Eastern standard time, gold prices have given up all of yesterday’s gains and closed at below yesterday’s open.

Last night, gold prices traded lower overseas. Moving to a two-week low Monday morning in European trading, gold dropped to $1,307.50.

Although the probability of a rate hike at the conclusion of this month’s FOMC meeting next week is extremely high, traders, analysts, and investors continue to have a wait-and-see attitude.