Gold plumbs three-week low as dollar climbs for fifth straight session

Gold futures fell nearly one percent in American trade to April 6 lows as the dollar index rose to March 2 highs, following earlier data from the US, the world's largest economy. 

As of 01:55 GMT, gold futures due on June 15 fell 0.81% to $1,327.40 an ounce from the opening of $1,338.30, while the dollar index rose 0.45% to 90.72 from the opening of 90.32. 

Earlier US data showed the preliminary services PMI rose to 54.4 from 54 in March, beating forecasts of 54.3, while manufacturing PMI rose to 56.5 from 55.6 in March, beating expectations of 55.2. 

Existing home sales rose 1.1% in March to an annualized 5.60 million units, compared to a 3% rise in February to 5.54 million, beating expectations of a 0.2% rise to 5.55 million units.

Gold holdings at SPDR Gold Trust, the world's largest gold-backed investment fund, settled on Friday at 865.89 tonnes, the highest since June 8, 2017, after rising 3%, or 23.63 tonnes in 2017, while gold prices rose 13% last year, the second yearly rise in a row.