Gold futures mark fifth-straight session of losses

Gold futures on the COMEX division of the New York Mercantile Exchange fell on Tuesday for a fifth session as traders mulled mixed US economic data for clues on the demand outlook for the precious metal.

The most active gold contract for June delivery fell 3.8 US dollars, or 0.30 percent, to 1,280.0 dollars per ounce. Gold dropped a total of 2.5 percent in five trading sessions, the longest losing steak since November. The settlement was the lowest for a most-active contract since Feb. 10.

Gold fell 2.9 percent in March but ended the first quarter with a 6.8 percent rise, statistics showed. According to some market analysts, with gold's strong performance in the first quarter, it appears that some short-term profit taking is going on, which pressured the trading on the day.

On Tuesday, the Institute for Supply Management said, the US manufacturing index rose to 53.7 percent in March from 53.2 percent a month earlier. The March jobs report, one of the key economic data, will come out on Friday.

Silver for May delivery fell 6.4 cents, or 0.32 percent, to 19. 688 dollars per ounce.