Gold futures traded lower in early deals on Monday, pressured by the strength in dollar makes the green back denominated yellow metal costlier for other currency holders. However, anticipation of a pause of Federal Reserve’s interest rate hikes amid soft US inflation data capped some losses.
Gold futures for August delivery down by $8.3 or 0.42% at $1964.4 ounce on the Comex division of the New York Mercantile. Spot gold declined by $2.29 or 0.12% to $1,952.92 per ounce.