Gold futures traded slightly higher in early deals of Monday, rebounding from Friday’s sharp losses and on safe haven bullion bets spurred by the global slowdown fear. However, gains remained limited on stronger dollar. Gold for the most active contract had logged 1.3% loss for the week.
Gold futures for December up by 70 cents or 0.04% to settle at $1645.50 ounce on the Comex division of the New York Mercantile. However, spot gold dipped by $1.8 or 0.11% or $ 1,643.04 per ounce.