Gold futures traded higher on Monday as the bullion surged near a seven-month high amid softer US dollar which makes dollar-denominated gold less expensive for overseas buyers. Meanwhile, expectations that the US Federal Reserve would slow its pace of interest rate hikes also lifted yellow metal prices.
Gold futures for February jumped by $12.7 or 0.68% to settle at $1882.4 ounce on the Comex division of the New York Mercantile. Spot gold rose by 0.2% to $1,868.89 per ounce.