A weaker US dollar, scattered signs of a relaxation of the lockdowns in the US, Asia, and Europe saw an easing of tensions in markets and that led gold to a small drop on the day, along with silver.
Comex gold for June delivery fell $US11.80, or 0.7%, to settle at $US1,723.80 an ounce, after last week posting a 2.2% gain, and its fourth weekly rise in five weeks.
Comex May silver lost 5.3 cents, or nearly 0.4%, to close at $US15.21 an ounce, following a weekly loss of 0.2%.
But Comex May copper rose 1.3 cents, or 0.6%, to end at $US2.35 a pound, up a fourth consecutive session following a loss last week of 0.3%.
The US dollar weakened which saw the Aussie dollar crack the 64 US cent level for the first time in a while.It was trading around 64.60 US cents in early Asian markets, close to the session high of 64.72 US cents.
Iron ore prices also dipped by around 1% on Monday.
The Metal Bulletin’s index showed an 87 cent fall in the price of 62% Fe fines (delivered to northern China) to $US83.48.
