Gold futures settled lower on Monday, as the safe haven appeal of the bullion dulled after efforts by regulators trivialized banking contagion. Moreover, profit taking at prevailing level also fuelled the bearish trend.
Gold futures for April declined by $30 or 1.5% to finish at $1953.80 ounce on the Comex division of the New York Mercantile. However, spot gold rose by $3.13 or 0.16% to $1,959.80 per ounce.