Gold falls as U.S. dollar strengthens
Gold futures on the COMEX division of the New York Mercantile Exchange fell on Wednesday as the U.S. dollar strengthened.
The most active gold contract for June delivery fell 2.60 U.S. dollars, or 0.13 percent, to close at 2,035.60 dollars per ounce.
Market analysts noted that technical trading factors helped keep gold above the key psychological support of 2,000 dollars per ounce on Wednesday.
Economic data released on Wednesday supported gold. The Automated Data Processing Inc. reported that U.S. private payrolls rose by 145,000 in March, down from 261,000 in February and well below economists' estimate of 210,000.
The seasonally adjusted final S&P Global US Services PMI Business Activity Index registered 52.6 in March, up from 50.6 in February but below market forecast of 53.8.
The Institute of Supply Management (ISM) reported that its services purchasing managers' index registered at 51.2 percent in March, 3.9 percentage points lower than February's reading of 55.1 percent.
Silver for May delivery fell 6.40 cents, or 0.25 percent, to close at 25.037 dollars per ounce. Platinum for July delivery fell 21.60 dollars, or 2.10 percent, to close at 1,007.40 dollars per ounce.
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