Although investors and traders are bidding up both gold and silver today, in the case of gold, the strong dollar is greater than the net positive gain attributed to buying. As of 3:15 EDT, spot gold is currently trading down -$1.40 on the day.

Geopolitical tensions mount following a provocative and dangerous move by North Korea which fired yet another missile this time over Japan. The last time North Korea acted in such a reckless way was 2009, when they fired a missile over Japan.

Gold prices began trading overseas yesterday with solid and modest gains, trading up a few dollars as it flirted with $1299-$1300. After trading to $1300 before backing off over the last two weeks, it seems the third time is the charm.