Gold futures traded near three-month-high level in early deals on Monday, as the weaker dollar made the American currency denominated bullion cheaper for other currency holders, and as the retreat in US Treasury yield notes reduced the opportunity cost of holding non-interest bearing gold buoying the bullion investments. Gold for the most active contract had marked second consecutive weekly gain of about 0.4%, highest weekly gain since February.
Gold futures for June rose 0.4% to $1,845.60 an ounce on the Comex division of the New York Mercantile. Spot gold up 0.1% at $1,844.60 per ounce.