Gold futures fall on rising U.S. equities

CHICAGO, April 1 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange edged lower on Monday, as the precious metal was kept under pressure by the gains in the benchmark U.S. stock indices.

The most active gold contract for June delivery went down 4.30 dollars, or 0.33 percent, to settle at 1,294.20 U.S. dollars per ounce.

U.S. stocks ended higher on Monday. The Dow rose 1.27 percent to 26,258.42, the SP 500 was up 1.16 percent to 2,867.19 and the Nasdaq increased 1.29 percent to 7,828.91.

When equities post gains, the precious metal usually goes down, as investors are not necessarily looking for a safe haven, such as gold.

As for other precious metals, silver for May delivery was down 1.10 cents, or 0.07 percent to close at 15.099 dollars per ounce. Platinum for July delivery was up 1.20 dollars, or 0.14 percent, to settle at 855.30 dollars per ounce. Enditem