Gold futures traded higher in early deals on Monday, lifted by the softer American currency and the growing concerns over spiking covid cases and the worries over global economic health. The dollar index curbed against its rivals, making gold less expensive for other currency holders. The caution ahead to US Federal Reserve policy meeting this week also supported safe haven bullion bets. Based on the most active contracts gold had lost about 0.1% for the week.
Gold futures for June up by 0.1% to $1,780.10 an ounce on the Comex division of the New York Mercantile. Spot gold rose by 0.1% at $1,779.36 per ounce.