Gold futures finished modestly higher on Monday, marking first gain in five sessions as the dollar slipped ,making the bullion cheaper and as bond yields retreated, reducing the opportunity cost of holding non-yielding yellow metal. Besides, the gold also got buoyed with the sluggish US manufacturing data. While, investors awaited for labour market numbers to gauge US economic health. Stronger economic data might push the inflation hedge appeal of the bullion.
Gold futures for June climbed by 1.4% or $24.10 to settle at $1,791.80 an ounce on the Comex division of the New York Mercantile. Spot gold was up 0.1% at $1,770.66 per ounce.