Gold Down on Somewhat Boosted Dollar

As the U.S. dollar continues to be the primary contributor to where spot gold pricing sits, today has once again shown that with a stronger dollar comes weaker gold. The yellow precious metal is currently down $6.20 to $1,310.40 per ounce.

The U.S. dollar had a good trading session today thanks almost exclusively to rising anticipation over tomorrow Federal Open Market Committee (FOMC) meeting scheduled for tomorrow afternoon.

Market analysts are currently acting on an anticipation that the Federal Reserve will continue to raise interest rates. Whether the interest rate will be increased three times this year, however, or an even more hawkish four times this year, will remain to be seen.