Gold futures finish near 2-year low rate on Monday, as the investors braced for a hike of three-quarters of a point ahead to the Wednesday’s Federal Reserve monetary policy decision. Higher interest rates dampened investment appeal of the bullion. Besides, head winds dollar and US Treasury Bond yields soared in the session adding losses to the yellow metal.
Gold futures for December dipped by $5.30 or 0.37% to settle at $1678.20 an ounce on the Comex division of the New York Mercantile. While, spot gold declined by 0.7% to $1,663.55 per ounce.