23.04.201813:54:00UTC+00Rising Dollar Hurts Gold Prices

Gold futures tumbled to a monthly low Monday, as rising stocks and mediocre eurozone economic data boosted the US dollar.

The greenback jumped to its highest in three months, denting commodities.

June gold dropped $14.30, or 1.1%, to settle at $1,324/oz.

A report released by the National Association of Realtors on Monday showed existing home sales in the U.S. increased by much more than expected in the month of March.

NAR said existing home sales climbed by 1.1 percent to an annual rate of 5.60 million in March after surging up by 3.0 percent to a rate of 5.54 million in February. Economists had expected existing home sales to edge up by 0.2 percent.

Meanwhile, Eurozone private sector logged a moderate expansion in April, amid signs of weaker growth of demand and supply constraints.

The composite output index remained unchanged at 55.2 in April, flash survey results from IHS Markit showed Monday. The score was forecast to drop to 55.0.