Gold futures traded lower in early deals on Monday, as the safe haven appeal of the bullion dulled followed by optimism over next week’s Russia-Ukraine peace talks. Additionally, stronger dollar and positive trend in US Treasury Bond yields dragged gold investments further. However, resurgence in covid-19 cases in China and the concerns over global economic ramifications amid ongoing geo-political tensions had lifted the yellow metal about 1.3% last week.
Gold futures for April dipped by 0.2% to $1,949.70 on the Comex division of the New York Mercantile. Spot gold fell by 0.5% to $1,947.90 per ounce.