Gold futures rebounded from an eight month low rate in early deals on Monday, as the weaker dollar lifted the greenback denominated bullion investments as the softer dollar makes the yellow metal cheaper for other currency holders. However, the yellow metal had dipped about 6% for the February month, marking its worst monthly fall since November 2016, due to firmer US Treasury Bond Yields, which increase the opportunity cost of holding non-yielding gold.
Gold futures for April delivery gained 0.4% to $1,736.10 an ounce on the Comex division of the New York Mercantile. Spot gold rose 0.3% to $1,739.31 per ounce.