Futures Now

Will Gold End the Second Quarter Higher or Lower?

Source: World Gold Council

Gold slipped below $1,600 an ounce on Thursday — both the last trading day of the quarter and of the month — as banks reopened in Cyprus for the first time in two weeks without signs of panic withdrawals, sapping demand for low-risk assets.

Gold hit a one-month high of $1,616.36 last week on concerns the $10 billion euro rescue deal for Cyprus, which will leave big depositors and private bondholders with huge losses, could become a template for future bank bailouts in the euro zone.

But a widespread perception that the Cypriot crisis would be contained put the metal on track for its second quarterly decline in a row and analysts were now anticipating sideways trading ahead of the Easter holiday break.

(Read More: Cyprus Bailout Won't Be Euro Zone's Last: Poll)

Gold was down 0.5 percent to $1,597 an ounce. Spot prices were still set for a one percent gain in March, their first monthly rise in six months.

U.S. gold futures dropped 0.4 percent to about $1,600 an ounce.

That said, we want to hear from you — do you think gold will end the second quarter higher or lower?

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