Gold futures trade higher in early deals of Monday as the possibly vaccine-resistant Omicron coronavirus variant enlivened safe haven appeal of the bullion. Meanwhile, the yellow metal for the most active contract had posted a weekly decline of 3.6% , the worst weekly dip since June 18, amid anticipations that the US Central Bank might double the pace of curtail its monthly bond purchases from January and wind down its pandemic-era bond buying scheme by mid-March pulled off.
Gold futures for December rose by 0.4% to $1,793.20 an ounce on the Comex division of the New York Mercantile. Spot gold rose by 0.1% to $1,793.72 per ounce.