A rising U.S. dollar drove gold down half a percent on Tuesday, reversing an overnight rally sparked by fresh economic worries in Europe and a negative session on Wall Street. Further across-the-board strengthening of the U.S. dollar against major currencies was prompting investors to sell into the rally, traders said, with the next technical support point marked between $1,165 and $1,175 an ounce, according to technical analysis from Reuters and external sources. The dollar's new-found strength also hammered equity markets across Asia, but that did little to snap a selloff in bullion, despite gold's traditional role as an alternative buy when stocks sour. Gold is trading at $1,200 as of 21:15pm, London-Time, with a bullish trend. Gold’s Pool-Position is 71% Long, meaning that most Finotec clients are buying the precious metal.

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