Gold futures traded higher in early deals on Monday, whetted by the safe haven investment appeal of the bullion amid widespread lockdowns. Additionally, the yellow metal hovered near a four month high rate as the market awaited for the vital US inflation data this week for more cues on monetary policy, weaker dollar which made the bullion cheaper for other currency holders and on slide in US Treasury bond yield notes which lifted the investment appeal of the bullion. Gold for the most active contract had registered a third straight weekly gain, with a rise of 2.1%.
Gold futures for June rose 0.3% to $1,882.90 an ounce on the Comex division of the New York Mercantile. Spot gold was up 0.1% at $1,882.10 per ounce.