Moderate losses for bullions

Bullion prices ended moderately lower at Comex on Monday, 07 April 2014. Gold ceded gains from last week as speculators moved out of long positions.

Gold for June delivery settled down $5.20, or 0.4%, at $1,298 an ounce on the New York Mercantile Exchange.

May silver shed 4 cents, or 0.2%, to settle at $19.91 an ounce.

U.S. economic data released Monday was light and included the employment trends index and consumer installment credit. Neither had a markets impact. Consumer Credit report for February, indicated an increase of $16.50 billion after increasing an upwardly revised $13.80 billion (from $13.70 billion) in January. That was the largest monthly expansion since October 2013. The consensus expected consumer credit to increase by $14.30 billion.

Asian and European stock markets were pressured on Monday following Friday's losses in the U.S. stock market that were led by the Nasdaq index dropping sharply. Friday's U.S. jobs data was just a bit weaker than expected, but still put downside pressure on U.S. equities. The U.S. stock indexes were under pressure again in overnight trading.

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