Dull day for bullions

Gold marks a second straight monthly loss

Bullion prices ended lower on Tuesday, 31 March 2015 at Comex. Gold futures settled lower on Tuesday, marking a second straight monthly loss, with prices pressured by overall strength in the U.S. dollar.

Gold for June delivery which is the most-active futures contract, fell by $2.10, or 0.2%, to settle at $1,183.20 an ounce on Comex. For the month, prices lost around 2.5% and for the month and fell roughly 0.1% for the quarter, based on the most-active contracts. On Monday, gold futures fell for a second session, hobbled by strength in the dollar and a rally in equities.

May silver fell 7.6 cents, or 0.5%, to $16.598 an ounce. Prices were up roughly 0.3% for the month, gaining more than 6% for the quarter.

The euro declined Tuesday as concerns about a Greek default remain elevated, likely providing somewhat of a boost to gold. Any gains for dollar-denominated gold were capped by a climb in the ICE U.S. dollar index which was on track for its strongest quarter since 2008.

Prices for the metal on Tuesday likely found some support from weakness in U.S. equities, which headed lower as investors fretted over quarterly results. Data showed that the Chicago business barometer rose in February but remained in contraction territory, while consumer confidence surged in March.

Traders will spend much of this holiday-shortened week looking ahead to the March U.S. jobs report due Friday.

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