CHICAGO, March 26 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Tuesday as U.S. dollar and stocks rose.
The most active April gold was down 7.60 U.S. dollars, or 0.57 percent, to close at 1,315.00 dollars per ounce. Silver for May delivery was down 13.8 cents, or 0.89 percent to close at 15.429 dollars per ounce. Platinum for April delivery was up 2.10 dollars, or 0.24 percent, to settle at 859.80 dollars per ounce.
Downbeat economic data from major European countries and the U.S. Federal Reserve's cautious outlook for the U.S. economy caused concerns about global economic slowdown, boosting safe haven gold significantly during the previous session.
On Tuesday, Wall Street benchmarks rebounded. At midday, the Dow Jones Industrial Average rose 178.81 points, or 0.70 percent, to 25,695.64. The S&P 500 and Nasdaq Composite Index also followed Dow's rise.
When equities post gains, the precious metal usually goes down, as investors are not necessarily looking for a safe haven.
The U.S. dollar index, which measures the greenback against six major peers, was up 0.09 percent to 96.73 as of 1720 GMT, shortly before gold's settlement.
If the dollar strengthens, the gold, priced in the dollar, is usually pressured as it becomes more expensive for investors holding other currencies. Enditem
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