Gold prices dip for third time in 4 sessions

Gold prices ended lower for the third time in four sessions today, March 29, as easing worries about a full-blown banking crisis limited gains for the safe-haven asset.

Increased risk appetite has been pushing the yellow metal’s prices down in recent days after efforts by regulators to allay fears over the global banking system slowed safe-haven inflows into bullion.

The US Core Personal Consumption Expenditure (PCE) Price Index — the primary inflation index used by the Federal Reserve when making monetary policy decisions — is scheduled to be out on March 31.

At the settlement of today’s session, gold for June delivery contracted by 0.3%, or $5.90, to $1,984.50 an ounce.

Meanwhile, the US dollar index, which gauges the greenback's strength against a basket of six currencies, gained 0.2% to 102.65 points at 8:42 pm Makkah time.