Trading on the world commodities markets was mixed Monday as investors reacted to news of China's recent trade deficit, with gold and silver losing ground but grain commodities and platinum rising.

Gold futures on the COMEX division of the New York Mercantile Exchange Monday, with the most active gold contract for April delivery decreasing 11.70 dollars, or 0.68 percent, to settle at 1,699.80 dollars per ounce.

Silver for May delivery also fell 80.0 cents, a 2.34 percent drop, to settle at 33.41 dollars per ounce. However, platinum for April delivery gained 10.8 dollars, or up 0.64 percent, to close at 1,695.70 dollars per ounce.

In agriculture, the most active corn contract for May delivery rose 14.4 cents, or 2.23 percent, to close at 6.59 U.S. dollars per bushel. May wheat gained 8.2 cents, or 1.28 percent, to 6.51 dollars per bushel, while May soybeans edged down 3.2 cents, or 0.24 percent, to settle at 13.34 dollars per bushel.

Monday was the first trading day following this weekend's report from China that the country had recorded a 31.5 billion U.S. dollars trade deficit in February, a number that took many analysts by surprise.

Traditionally China recorded far more trade surpluses than deficits, and even the traditional losses China incurred every February due to the Lunar New Year holiday, fail to account for the sharp drop.

The news of China's February trade deficit, combined with last week's reduced growth projection for the Chinese economy from 8 percent to 7.5 percent, seemed to concern some traders Monday, as gold retreated from steady gains made last week to close on a more negative note.

Such a trend seemed to indicate that growth concerns regarding China's trade deficit seemed to overweigh recent optimism regarding the Greek situation in Europe. Trading in silver likewise had a bearish atmosphere.

Monday, however, saw platinum rise to a level almost equal to gold, causing some to wonder if perhaps platinum could lead the metals market in the future.

As traders debate the fate of the precious metals market, in the short term many look to Tuesday's upcoming meeting of the Federal Reserve's policy-making committee.

As central banks in the Americas, Europe and now especially China evaluate methods to control inflation and stimulus, some traders feel the precious metals market could see the greatest repercussions from such currency policies.

The agriculture market reacted Monday in a positive way. May corn rose to close at its highest level since Jan. 11, mostly due to rumors that began last week saying China is going to buying U.S. corn. Corn export inspections for the week registered at a higher than expected 36.2 million bushels. South Korea bought 65,000 tons of corn.

Wheat trading capitalized on the high gains in the Chinese-driven corn market, and wheat futures also rose Monday.

Wheat export expectations were significantly higher, with this week's positing of 31.6 million bushels notably above the 19.2 million bushels necessary to keep on track of the U.S. Department of Agriculture estimate.

Favorable weather forecasts were also reported Monday, as the warm and at times wet weather could support earlier plantings in the soil-ready plains.

Soybeans did not profit from gains in the corn and wheat markets, as May soybeans fell slightly Monday.

Weekly trade exports for soybeans came in at 26.2 million bushels, below trade expectations. The stoppage of dock workers in Argentina that began last week continues to affect Argentina's exports.