Gold futures finished lower on Monday, due to increased risk appetite in the market amid optimism over global economic rebound and on fears that the US central Bank might taper the stimulus measures in the wake of faster than expected inflation rates. The Federal Reserve is to hold a monetary policy two day meeting this week. As per reports speculators had trimmed their net long positions in COMEX gold in the week ended June 8. Yellow metal for the most active contract registered the lowest settlement in month.
Gold futures for August dipped by 0.7% or $13.70 to settle at $1,865.90 an ounce on the Comex division of the New York Mercantile. Spot gold slipped by 0.7% to $1,863.98 per ounce.