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Gold futures trade higher in early deals of Monday

18 Jul 2022 Evaluate
Rebounding from two straight sessional losses, Gold futures traded higher in early deals of Monday due to short covering. The yellow metal had fell to more than 15 month lower rate in last session. The bullion registered fifth consecutive weekly decline, by 2.2% amid strength in dollar, intensified Fed interest rate hike bets, and on better than anticipated US retail sales data.

Gold futures for August up by $10.50 or 0.62% to $1714.10 ounce on the Comex division of the New York Mercantile. Spot gold was higher by 0.2% to $1713.04 per ounce.