Gold futures finished higher on Monday, as the recession fears accelerated after US ISM services reading dipped for May buoying safe haven appeal. The ISM reports indicate a rapid softening in business activity. Moreover, softness in dollar and US Treasury bond yield notes also kindled yellow metal investments.
Gold futures for August delivery rose by $4.70 or 0.23% to settle at $1974.30 ounce on the Comex division of the New York Mercantile. While, spot gold dipped by $0.23 or 0.11% to $1,959.63 per ounce.