CHICAGO, March 30(Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Thursday, adding to a monthly loss, as the U.S. dollar regained its footing above a key technical level and equities traded mostly higher, drawing some investor attention away from the precious metal.
The most active gold contract for June delivery fell 8.8 U.S. dollars, or 0.7 percent, to settle at 1,248 dollars per ounce.
"Gold got a brief surge of safe haven demand early this week upon the failure of the Republican health care reform and fears that the rationale behind the 'Trump bump' might be unraveling," Brien Lundin, editor of Gold Newsletter said.
The retreat for gold Thursday came as the dollar, measured by the U.S. Dollar Index, climbed back above 100 after previously slipping below that level amid growing doubts about President Donald Trump' s ability to implement dollar-boosting fiscal policies.
The euro also weakened after a news report said European Central Bank officials had been alarmed by the market reaction to its March policy meeting.
A stronger dollar can weigh on commodities priced in the currency, making them less attractive to purchasers using other monetary units.
Metals extended losses after a pair of economic reports: jobless claims and a revised reading of gross domestic product. The reports early Thursday showed that the number of Americans who applied for first-time unemployment benefits in late March dropped by 3,000 to 258,000.
Data also showed that the U.S. grew at a 2.1% annualized pace in the fourth quarter and corporate profits continued to rebound.
Silver for May delivery dropped 4.6 cents, or 0.25 percent, to close at 18.206 dollars per ounce. Platinum for July delivery fell 0.6 dollars, or 0.06 percent, to close at 955.70 dollars per ounce.
