Gold futures retreated from its one month high rate in early deals of Monday, pressured by the strength in dollar and US Treasury Bond yields. Moreover, accelerated bets on aggressive interest rate hike by US Federal Reserve to tackle the mounting inflationary pressure also dragged the yellow metal investments.
Gold futures for August slipped by 0.5% to $1866.80 ounce on the Comex division of the New York Mercantile. Spot gold down by 0.5% at $1,862.29 per ounce.