US gold futures ended lower on Monday, weighed down by a more optimistic economic outlook and worries about interest rate hikes, but the bullion market was underpinned by inflation concern, analysts said. COMEX April gold futures settled down 80 cents at $1,348.20 an ounce on the COMEX division of the NYMEX.
Ranged from $1,344.10 to $1,354.5 an ounce - a two-week high. COMEX total gold futures volume at 80,000 lots, about two-thirds lower than its 30-day average and in line with lighter-than-usual volume last Friday - preliminary Reuters data. Spot gold rose 0.3 percent to $1,350.75 an ounce by 3:08 pm EST (2008 GMT). COMEX March silver ended up 28.4 cents or 1 percent at $29.343 an ounce, helped by investment demand.
Ranged from $29.005 to $29.45. COMEX estimated silver futures volume was nearly 50 percent below 30-day average - preliminary Reuters data. Spot silver climbed 0.9 percent to $29.35 an ounce. NYMEX April platinum finished down $1.60 at $1,844.20 an ounce on weaker NYMEX March palladium closed up $2.60 at $819.05 an ounce, despite platinum's slight gains. Spot palladium rose 0.4 percent at $815.
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