Strong dollar pounds gold, silver

Precious metal prices lost sheen in March on strengthening U.S. Dollar and concerns over a likely rise in interest rates. The rise in the prices of crude oil stoked inflation-related concerns that may warrant an increase in interest rates.

As a result, Comex gold closed well below the psychological $5,000-mark and settled at $4,678.6 by end March, representing a 10.85% fall last month.