Gold futures traded slightly lower in early deals of Monday, after posting two consecutive weekly gain and retreating from previous session’s one and half month highest settlement. The yellow metal for the most active contract had marked 1.6% higher compared to previous week. Meanwhile, the US Federal Reserve chief Jerome Powell’s comment that inflation could ease next year also dulled safe haven bullion bets.
Gold futures for December slipped by 0.1% to $1,793.70 an ounce on the Comex division of the New York Mercantile. While, spot gold was little changed at $1,792.95 per ounce.