(RTTNews) - The price of gold was moving lower Monday morning as traders were concerned over the euro zone debt situation after elections in France.
Gold for June delivery, the most actively traded contract, eased $3.80 to $1,641.40 an ounce. Last week, gold shed over 1 percent as the dollar continued to strengthen amid a mixed batch of economic data.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, were unchanged at 1,274.09 tons.
Meanwhile, the U.S. dollar was paring its recent gains versus the euro and sterling, while trading flat against the yen and the Swiss franc.
In economic news, German factory orders increased 2.2 percent in March from the previous month on robust foreign demand, the Federal Ministry of Economy and Technology said. March's monthly growth was bigger than the expected 0.5 percent and far exceeded the 0.6 percent rise logged in February.
Meanwhile, Switzerland's consumer prices declined for the seventh consecutive month in April, data released by the Federal Statistical Office revealed. The consumer price index dropped 1 percent, following a similar size fall in March. Economists had expected a 0.9 percent decline.
Elsewhere, the prices of silver and platinum were ticking lower in morning deals.
