Gold futures finished higher on Monday, buoyed by the softer dollar, which tumbled almost to a eight-week low against other major currencies and on bullion bets ahead to FOMC (Federal Open Market Committee) meeting with the focus on the tapering of bond purchases. Besides, participants also eyed on US President’s speech to Congress and release of US GDP data for the first quarter.
Gold futures for June up by 0.1% or $2.30 to $1,780.10 an ounce on the Comex division of the New York Mercantile. Spot gold rose by 0.1% at $1,779.73 per ounce.