Gold futures traded lower in early deals on Monday, extended Friday’s losses pressured by the firmness in dollar and bond yields. Moreover, more interest rate hike commitments by Federal Reserve to tame the soaring inflation fuelled dip in rates. However, safe haven bullion appeal with the US-China conflicts and caution ahead to US CPI data release capped some losses.
Gold futures for April down by $14.70 or 0.25% to settle at $1869.80 ounce on the Comex division of the New York Mercantile. Spot gold fell by 0.32% or $5.94 to $1,859.63 per ounce.