The gains on just the first four days, and the last day of the month totaled 29.8 points.
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"It's the first day of the month and in today's market it's really about the month-to-month gain, " Rueckert said.
The dollar index also produced a technically bearish monthly low close on Friday, the last trading day of the month.
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Wednesday is a key trading day because it is the last day of the month, when traders price their portfolios.
Some bargain hunting and short covering are featured on this last trading day of the month and of the quarter.
Friday is the last trading day of the month, and of the quarter, which makes it an extra important day, technically.
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Friday is the last trading day of the month, which makes it an extra important trading day from a technical perspective.
It takes place on the nearest Friday to the seventeenth day of the month of Mehr, according to the solar-agricultural calendar.
But the gains on just the first four days of the month, and the last day of the month, totaled 29.8 points.
Below is a table showing all instances since 1980 where the index fell at least 1.5% on the first day of the month.
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Wednesday is the last trading day of the month, which could see some larger trading firms making position adjustments during the trading session.
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The gold and silver markets are both poised to produce technically very bullish monthly high closes on Wednesday, the last trading day of the month.
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The IPCA-15 measures inflation data from 15th day of the previous month, to the 15th day of the month of reference, in this case June.
The bulls have near-term upside technical momentum as the market produced a technically bullish monthly high close on Tuesday, the last trading day of the month.
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The bulls have near-term upside technical momentum as the market on Tuesday produced a technically bullish monthly high close on the last trading day of the month.
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There were several weaker-than-expected U.S. economic reports issued on Thursday, the last trading day of the month (which makes Thursday an extra important day, from a technical perspective).
The last day of the month also often participates because savvy traders pile into the market in anticipation of a similar rally in the first few days of the next month.
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The New York exchanges are set to reopen Wednesday, which should make for a much more active trading day, especially as Wednesday is also the last trading day of the month.
Trading Friday is likely to be extra-important regarding the near-term technical posture of the gold market, and especially since Friday is the last trading day of the month and of the quarter.
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"It'll probably mean that rather than being gone by lunchtime on the first day of the month, the grants are gone by 3 o'clock in the afternoon of the first day, " observed Dr Hinnells.
Thursday is the last trading day of the month and of the quarter, and portfolio managers were also likely more active in position adjustments, which also likely put some downside pressure on the metals.
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As this is the last trading day of the month, we may have to wait until next week before we get over the choppy trading that is often typical in the month of March.
Rainfall amounts for March and April were below average, but May is already wetter than average, with the average area receiving 86mm of rain up to the 28th day of the month - 70mm is the average.
Adding to the sense of urgency to open on Wednesday: It is the final day of the month, a time that many mutual funds, hedge funds and other investors use to present the status of their investments.
Finally, the LIBOR 6 month rates on the first business day of each month are, the great majority of the time, higher than the five-day running average of the LIBOR 6 month rate surrounding the first business day submissions throughout the Class Period.
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In that month, Bergkamp became the first player in 25 years to score the first, second and third goals in BBC's Match of the Day Goal of the Month competition.
Last week most of the gain took place on Monday, the last day of January, and only the first day of the new month (Feb).
When the last day of a month falls on a weekend, auto makers typically count all weekend sales in their previous month's totals including cars sold on the first day of the new month.
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