Gold Down to $1,197.20 per Ounce as Dollar Rises

Gold fell 0.27 percent or $3.20 to $1,197.20 per ounce today, according to iNVEZZ.com. The dollar rose against the euro as investors anticipate further stimulus measures from the European Central Bank, which depressed the gold price, though physical demand has been fairly strong.

“The gold price is … currently defying both the rising equity markets and the firm U.S. dollar,” Commerzbank wrote in a note FastMarkets cited. “It is finding support from reviving physical demand in Asia.”