Gold falls as U.S. dollar strengthens

By Xu JingUnreguser

CHICAGO, March 31 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Friday as the U.S. dollar strengthened.

The most active gold contract for June delivery fell 11.50 U.S. dollars, or 0.58 percent, to close at 1,986.20 dollars per ounce.

Gold finished March 8.1 percent higher and gained 8.8 percent for the first quarter of 2023.

Economic data released Friday are mixed. The U.S. Commerce Department reported that the U.S. personal consumption expenditures price index excluding food and energy increased 0.3 percent in February. The figure was below the 0.4-percent market estimate and lower than the 0.5-percent January increase.

The Chicago Business Barometer released by the Institute of Supply Management-Chicago inched up 0.2 index points to 43.8 in March, the first increase since December. The increase was unexpected and also higher than a 43 reading expected by economists.

The Consumer Sentiment Index released Friday by the University of Michigan (UM) Surveys of Consumers fell to 62.0 in the March 2023 survey, down from 67.0 in February.

Silver for May delivery rose 16.70 cents, or 0.70 percent, to close at 24.156 dollars per ounce. Platinum for July delivery rose 6.20 dollars, or 0.62 percent, to close at 1,003.10 dollars per ounce.

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