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Gold futures trade lower in early deals of Monday

07 Nov 2022 Evaluate

Gold futures traded lower in early deals of Monday as the bullion investments got dulled after US dollar strengthened on China’s recommitment to its zero-COVID policy. The yellow metal investments further got pressured on intensified bets about Fed continuing sharper interest rate hikes.

Gold futures for December trade lower by $ 0.2 or 0.01% to $1676.6 ounce on the Comex division of the New York Mercantile. Spot gold dipped by $0.4% to $1,674.12 per ounce.