Gold futures traded lower in early deals of Monday, pressured by the speculation of a bearish trend in yellow metal after last week’s drop to a six-week low rate. The yellow metal for the most active contract marked fall of 1.9% this week.The precious metal had rebounded on Friday after Federal Reserve Chair Jerome Powel’s dovish comments accelerated bets on interest rate hike pause.
Gold futures for June down by $1.60 or 0.08% to $1980.00 ounce on the Comex division of the New York Mercantile. While, spot gold added by $0.45 or 0.02% to $ 1,978.26 per ounce.