(GoldAlert.Com) Precious metals futures posted losses Monday in spite of further weakness in the U.S. dollar.COMEX gold futures, per the June contract, finished lower by $3.00, or 0.2%, at $1,490.60 per ounce. Gold futures initially rallied this morning back above $1,500, but were unable to maintains their gains this afternoon.Silver futures for July delivery on the COMEX dropped $0.88, or 2.5%, to $34.13 per ounce. Silver futures followed a similar path to that of gold, briefly turning positive this morning above $35 per ounce before relinquishing its gains.The U.S. Dollar Index dropped 0.3% to 75.47 this afternoon, while the euro/dollar currency cross advanced 0.6% to 1.4188.
Source Link: http://www.goldalert.com/2011/05/gold-futures-dip-silver-sell-off-continues/