Gold News & Info

Source: MarketWatch

New York— Pressured by a firmer dollar, gold futures finished down sharply on Monday and for the month of March, but the precious metal advanced 10.3% during the first quarter. On Monday, gold for June delivery ended down $15, or 1.6%, at $921.50 an ounce. For March, gold lost $50.60 or 5.2%. But for the first quarter, the precious metal still gained $86.60, or 10.3%. Gold futures for June delivery dropped $8 to $928.50 an ounce on the New York Mercantile Exchange. Other metals also declined, and crude-oil futures tumbled 4.7%.

"Gold remains in a range between $905 and $955, but gold's higher weekly close is constructive from a technical point of view," said Mark O'Byrne, executive director at Gold and Silver Investments, in a research note. "The weakening U.S. economy is obviously dollar bearish and conversely it is gold bullish, but more consolidation may be necessary before we get above the four-digit price again," he said. See full story.