After posting first weekly gain in 6 weeks, Gold futures traded lower in early deals of Monday in tandem with the strength in green back against its major rival currencies. Moreover, the yellow metal investments also dulled with the accelerated interest rate hike bets ahead to key FOMC meeting. The bullion had marked 1.4% rise for the week compared to the previous, majorly influenced by the headwind dollar movements.
Gold futures for August dipped by $2.5 or 0.14% to settle at $1727.40 ounce on the Comex division of the New York Mercantile. While, spot gold was declining by 96 cents or 0.06% to $1,726.68 per ounce.