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Gold futures trade lower in early deals on Monday

22 Mar 2021 Evaluate
Gold futures trade lower in early deals on Monday, due to the gain of the dollar as the perceived safe haven asset amid concerns that developments in Turkey would threaten other financial markets. Turkish President on Saturday, unexpectedly fired its central bank chief, Naci Agbal, replacing him with a former ruling party legislator and opponent of tight monetary policy, Sahap avcioglu. The yellow metal for the most active contract had marked gain of 1.3% for the week.

Gold futures for April were down 0.2% at $1,738.80 an ounce on the Comex division of the New York Mercantile. Spot gold fell 0.3% to $1,739.80 per ounce.