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Sellers dominate gold futures and spot pricing but US dollar weakness overcomes losses
On the surface, traders are witnessing higher pricing in physical and forex gold, as well as gold futures in trading today. Gold futures basis the most active August contract is currently up $3.30 or 0.17%, spot gold is currently fixed at $1960 up $2.70, and Forex gold is currently up four dollars or 0.20% and fixed at $1960.40. chart But as it has been for the last six consecutive trading days, since July 6, it is been severe and extreme selling pressure in the dollar index that has made the most significant impact on daily price changes. Gold is paired against the dollar which means that any price change is a ... (full story)