Gold futures extend losses amid firmer U.S. dollar

CHICAGO, March 27 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell for the second consecutive session on Wednesday as the U.S. dollar strengthened.

The most active April gold was down 4.60 U.S. dollars, or 0.35 percent, to close at 1,310.40 dollars per ounce. Silver for May delivery was down 13.1 cents, or 0.85 percent to close at 15.298 dollars per ounce. Platinum for July delivery was down 3.20 dollars, or 0.37 percent, to settle at 862.20 dollars per ounce.

The U.S. dollar index, which measures the greenback against six major peers, continued to rise on Wednesday. It was up 0.02 percent to 96.80 as of 1717 GMT, shortly before gold's settlement.

If the dollar strengthens, the gold, priced in the dollar, usually falls as it becomes more expensive for investors holding other currencies.

Some profit taking also pressured the precious metal, which had risen significantly since last week amid concerns about world growth slowdown, said market watchers.

Meanwhile, Wall Street stock benchmarks suffered losses on Wednesday, curbing the fall of gold.