Gold futures traded lower in early deals of Monday, on account of profit taking after previous session’s three-week high settlement with the surge in safe haven appeal amidst Israel-Gaza conflict and softer dollar. Moreover, the yellow metal for the most active contract had logged the sharpest weekly gain in 7 months, by jumping 3.1% for the week.
Gold futures for December delivery dipped by $9.40 or 0.48% to $1932.10 ounce on the Comex division of the New York Mercantile. While, spot gold down by $12.80 points 0.66% to $1,920.02 per ounce.