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Gold futures trade lower in early deals of Monday

11 Jul 2022 Evaluate
Gold futures trade lower in early deals of Monday giving up Friday gains, in tandem with the firmness in headwind dollar and as safe haven appeal of the bullion dulled with the upbeat US jobs data. Moreover, investors focus on sharper interest rate hikes by US Federal Reserve and on strength in US Treasury bond yields, dulling investment appeal of the bullion. The yellow metal is now trading near 21 month low rate. Gold for the most active contract had registered loss for the fourth straight week, by falling 3.3% for the week. 

Gold futures for August dipped by $2.20 or 0.13% to $1740.10 ounce on the Comex division of the New York Mercantile. Spot gold was down by 0.1% to $1740.16 per ounce.