Gold futures turned sharply lower in Monday's session, following the decline in all commodities, as investors fretted about the potential statement addressed to muffle the eyes of the official rhetoric of the Group of Seven.
Gold for April delivery fell $ 15.40, or nearly 1%, to $ 1,651.50 an ounce on the Comex division of the New York Mercantile Exchange. Gold fell $ 4.40 in Friday's session recorded a decrease of 0.2% in the last week.
Speculation over the G-7 statement to have an impact on gold and silver in the current market players' off their open positions, "chose to wait before meeting this weekend.
The ICE Dollar Index, which records trade the greenback against six major currencies, rose to 80.298 on Monday's session, rose from 80.234 in late North American trading session on Friday.
In other metals trading, silver fell 39 cents, or 1.2%, at $ 31.05 per ounce level. Other metals also fell, with March palladium traded at $ 751.10 an ounce, down 40 cents, or 0.05%. March copper fell 4 cents to $ 3.72 per pound, down by 0.9%, while platinum for April delivery fell $ 12.70, or 0.7%, to trade at $ 1,702 an ounce level.
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