Gold futures traded higher in early deals on Monday, lifted by the weakness in US currency making the dollar denominated bullion less expensive for other currency holders. Moreover, inflation worries amid President Joe Biden’s plans for infrastructure, jobs and families also added the upside for the yellow metal. Gold for the most active contract fell 0.6% for the week, albeit it scored 3% gain for April, making first monthly gain this year so far.
Gold futures for June rose 0.2% to $1,770.30 an ounce on the Comex division of the New York Mercantile. Spot gold was up 0.1% at $1,770.66 per ounce.