Gold futures firmed on Monday as the dollar and stocks struggled, with the precious metal looking to build on what was a third-straight quarterly gain although notably the slimmest three-month rise for the asset in seven years.
Against this backdrop, June gold added $15, or 1.2%, to $1,342.40 an ounce.
Gold futures fell 2.1% last week and ended around 0.3% lower for the month of March. For the quarter and year to date, they were 0.7% higher. Based on the most-active contract settlement of $1,309.30 at the end of 2017, however, gold futures were up 1.4% for the first quarter and year to date—the smallest quarterly rise since the three months ended March 2011, according to FactSet data.
The ICE U.S. Dollar Index a measure of the greenback against a half-dozen currencies, slipped 0.1% Monday and is down over 2% year to date. Gold and the dollar often move inversely as strength or weakness in the dollar impacts gold’s appeal to investors using other currencies.
May silver jumped 30 cents, or 1.9%, to $16.575 an ounce.
Source : Marketwatch