Gold futures traded bearish in early deals of Monday, as the expectations over hawkish stance of Federal Reserve intensified after the better than expected advance in US job figures, dulling the investment appeal of the bullion. The yellow metal for the most active contract had posted a weekly decline of about 2.97%, representing the sharpest such decline since the period ended June 18.
Gold futures for December traded lower 2.1% to $1,726.40an ounce on the Comex division of the New York Mercantile. Spot gold fell 2.3% to $1,722.06 per ounce.