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Gold futures trade higher in early deals of Monday

21 Aug 2023 Evaluate
Gold futures traded higher in early deals of Monday, kindled by the short covering after yellow metal rates plunged for the week by 1.6% amid prospects of continued rate hikes by Federal Reserve. However, gains remained capped with the firmness in dollar and US Treasury bond yield notes.

Gold futures for December delivery added by $3.60 or 0.19% to settle at $1920.10 ounce on the Comex division of the New York Mercantile. While, spot gold rose by $2.90 or 0.15% at $ 1,892.21 per ounce.