Gold futures traded slightly lower in early deals on Monday, pressured by the stronger bond yields and as Federal Reserve signalled interest rate hike as inflation soared to 40 year record high in December. Higher interest rate and stronger bond yields dulls investment appeal of the non-yielding bullion. Albeit, yellow metal for the most active contract gained 1.1% for the week, registering fifth weekly gain in six weeks.
Gold futures for February lost 0.10% or $1.50 to settle at $1815.00 an ounce on the Comex division of the New York Mercantile. Spot gold dipped by 0.2% to $1,814.08 per ounce.