Gold futures traded higher in early deals of Monday, kindled by the weakness in dollar and on recession woes amidst soft economic data along with the potential change in the shape of the yield curve. Moreover, short covering after the yellow metal for the most active contract lost 1.2% for the week also supported the upside.
Gold futures for December delivery rose by $3.90 or 0.20% to $1946.60 ounce on the Comex division of the New York Mercantile. While, spot gold jumped by $4.55 or 0.24% at $1,923.63 per ounce.