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Gold futures trade lower on Monday

27 Mar 2023 Evaluate

Gold futures traded lower on Monday, due to profit taking after the bullion prices had surged amid concerns over financial system followed by global bank turmoil. However, weakness in US dollar capped some losses.

Gold futures for April dipped by $8.0 or 0.40% to $ 1975.8 ounce on the Comex division of the New York Mercantile. Spot gold fell 0.3% to $1,977.90 per ounce.