London - Financial market movements are being interpreted as bearish for precious metals, but the worst culprit is the US dollar which continues to strengthen against the euro, says Standard Bank analyst Walter De Wet. The greenback is trading around $1.2750 against the euro, while European and Asian stocks fall sharply. Primary support for gold is at $701/oz, secondary support is at $695/oz, and then $680/oz, De Wet says. Adds resistance is at $735/oz. Spot gold is trading at $703.87/oz, -2.6% from Thursday's close.