Gold futures traded higher in early deals on Monday, whetted by the safe haven investments with the cautious outlook ahead to the US presidential elections. The yellow metal is regarded as a hedge as a hedge against inflation and currency debasement. Though, a firmer dollar capped the gains.
Gold futures for December delivery were up 0.2% at $1,882.90 an ounce on the Comex division of the New York Mercantile. Spot gold was up rose 0.2% to $1,882.00 per ounce.