Gold futures settled lower on Monday, as the gain in dollar with some risk appetite in the market pressured the non-yielding bullion investments. Moreover caution ahead to Friday's US Consumer Price Index data release also added the downside, as the market hopes the Federal Reserve could reduce its asset purchases at a faster pace to tackle inflation.
Gold futures for February dropped by 0.3% or $4.40 to settle at $1,779.50 an ounce on the Comex division of the New York Mercantile. While, spot gold fell by 0.2% to $1,780.63 per ounce.