Gold futures settled lower on Thursday, adding to a monthly loss, as the U.S. dollar regained its footing above a key technical level and equities traded mostly higher, drawing some investor attention away from the precious metal.

June gold US:GCM7, which is now the most-active contract, fell $8.80, or 0.7%, to settle at $1,248 an ounce. The June contract, which ended flat on Tuesday and lost roughly 0.2% Wednesday, marked its lowest settlement since March 20, FactSet data show. For the month, gold futures traded about 0.7% lower, but have gained 8.1% year to date, according to FactSet.

May silver US:SIK7 ended at $18.206 an ounce, down 4.6 cents, or 0.3%.

“Gold got a brief surge of safe-haven demand early this week upon the failure of the Republican health care reform and fears that the rationale behind the ‘Trump bump’ might be unraveling,” Brien Lundin, editor of Gold Newsletter, told MarketWatch.

“ ‘Fear is a shaky foundation upon which to build a gold rally, since headlines and sentiments shift rapidly.’ ” — Brien Lundin, Gold Newsletter

“But fear is a shaky foundation upon which to build a gold rally, since headlines and sentiments shift rapidly,” he said. “And that’s the way it’s played out, as investors have settled down for now, awaiting new developments and some trends to develop in all the markets.”

The retreat for gold Thursday came as the dollar, measured by the ICE U.S. Dollar Index DXY, +0.03% , climbed back above 100 after previously slipping below that level amid growing doubts about President Donald Trump’s ability to implement dollar-boosting fiscal policies.

The euro also weakened after a news report said European Central Bank officials had been alarmed by the market reaction to its March policy meeting.

A stronger dollar can weigh on commodities priced in the currency, making them less attractive to purchasers using other monetary units. The ICE U.S. Dollar Index was up 0.4% at 100.37, on track for a 0.6% gain this week.

Metals extended losses after a pair of economic reports: jobless claims and a revised reading of gross domestic product. The reports early Thursday showed that the number of Americans who applied for first-time unemployment benefits in late March dropped by 3,000 to 258,000. Data also showed that the U.S. grew at a 2.1% annualized pace in the fourth quarter and corporate profits continued to rebound.

Elsewhere on Comex, May copper US:HGK7 fell less than a cent to $2.672 a pound, while July platinum shed 70 cents, or 0.1%, to $954.60 an ounce and June US:PAM7 rose $7.30, or 0.9%, to $797.50 an ounce.