Gold is seeing moderate selling pressure and has dropped below the psychologically important $1,200.00 level in late-morning dealings Wednesday. The precious metal moved to its session low as the U.S. dollar index touched an 11.5-year high. The strong greenback continues to be a bearish underlying factor for the entire raw commodity sector, including gold and silver. April Comex gold was last down $5.70 at $1,198.70.
