Gold futures traded higher in early deals of Monday, sapping three day losing streak. The yellow metal for the most active contract had posted lowest finish in three weeks on Friday and had registered 2.7% loss for the week, amid bets over more Fed interest rate hikes following upbeat US job numbers. Short covering at prevailing rates is supporting the bullion buying.
Gold futures for April finished up by $13.20 or 0.70% to settle at $1889.80 ounce on the Comex division of the New York Mercantile. While, spot gold rose by 0.64% or $11.89 to $1,876.86 per ounce.