Gold futures finished sharply lower on Monday, pressured by the profit taking after notching an all-time high of $2,100. The yellow metal had surged over past couple of months amidst strong Fed interest cut anticipations and on safe haven appeal with global geo-political tensions. Strength in dollar and Treasury bond yield notes also kindled the bullion sell off.
Gold futures for February delivery dipped by $47.50 or 2.27% to $2042.20 per ounce on the Comex division of the New York Mercantile. While, spot gold added by $8.18 points or 0.40% to $2,037.60 per ounce.