Gold Dips to $1,328.79 as Dollar Gains

Gold prices hit above $1,330 an ounce July 23 before dipping back down as the U.S. dollar made gains. The $1,338.91 an ounce seen earlier in the session was a one-month high and the biggest percentage increase in more than a year.

However, gold prices eventually fell $6.64 to $1,328.79 an ounce today, Reuters reported. U.S. gold futures for August delivery were also down to $1,328.80 an ounce, a drop of $7.20. The decline in prices came after the dollar index rose 0.1 percent, which put pressure on the precious metal.