Pale day for bullions

A firmer U.S. dollar index and weaker crude oil prices push prices lower

Bullion prices ended the U.S. day session with modest losses on Monday, 11 May 2015. Prices dropped due to a firmer U.S. dollar index and weaker crude oil prices. Gold futures settled lower on Monday, giving back much of what they lost in the previous session as the dollar strengthened against the euro, but investors kept an eye on protracted negotiations between Greece and its international creditors.

Gold for June delivery on Comex fell $5.90, or 0.5%, to settle at $1,183 an ounce after trading as low as $1,178. Prices had lost 0.6% on Friday.

July silver ended lower by 15.1 cents, or 0.9%, to $16.314 an ounce.

The dollar edged higher versus the euro and other major rivals, lifting the ICE dollar index, a measure of the U.S. currency against six major rivals.

It was reported on Monday that the Greek government executed the order to make a scheduled loan repayment of 750 million euro to the International Monetary Fund on Tuesday.

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