Gold futures ended steeply lower on Monday, as the peaked risk appetite in the market after the release of upbeat US business activity data and on the positive outlook over progress in COVID-19 vaccines dulled yellow metal investments. US business activity in November rose at its fastest rate in more than five years, raised hopes for a recovery from the economic damage caused by covid-19.
Gold futures for December delivery were down by $34.60 or 1.8% to settle at $1,837.80 an ounce on the Comex division of the New York Mercantile. Spot gold dipped 1.8% to $1,836.71 per ounce.