Daily Gold Update

Source: Marketwatch

New York— Gold futures finished lower on Monday, erasing gains seen in morning trade, as investor enthusiasm for the U.S. economy and aid to Greece faded, lifting the dollar while reducing the appeal of the precious metal. Gold for April delivery closed at $1,124 an ounce, down $11.20, or 1% at the New York Mercantile Exchange. It earlier rose as high as $1,138 and fell as low as $1,118.50 an ounce. The SPDR Gold Trust, the largest exchange-traded fund backed by the metal, fell 0.7%.

Among other metals, silver futures also came under pressure, but less so than gold. Silver for April delivery ended down 9 cents, or 0.6%, at $17.26 an ounce. "Silver remains the laggard and has underperformed gold in recent months," analysts at GoldCore said in a note. But "this has changed in recent weeks with silver again beginning to outperform gold," they said. See full story.