Gold futures traded lower in early deals on Monday, as the dollar strengthened after job data exhibited an increase in the world’s largest economy in March raised expectations of further rate hikes by Fed Reserve. Labor Department data showed that nonfarm payrolls increased by 236,000 jobs last month, versus expectations of 239,000 and the unemployment rate dipped to 3.5% from 3.6% in the prior month.
Gold futures for June dipped by $18.4 or 0.91% to $2026.40 ounce on the Comex division of the New York Mercantile. While, spot gold down by $17.06 or 0.85% to $ 1,990.85 per ounce.