Gold futures traded higher in early deals of Monday, as the safe haven appeal of the bullion spurred after missile attack on a Transfigura-operated oil tanker off the coast of Yemen by Houthi rebels, and the drone attack on US forces stationed in North Eastern Jordan which killed three US service members. Additionally, dip in 10-year Treasury bond yield notes also aided precious metal buying. Albeit, caution ahead to this week’s Federal Reserve monetary policy decision and a stronger dollar capped some gains. The yellow metal for the most active contract had registered gains of 0.33% weekly gain.
Gold futures for April delivery up by $7.6 or 0.37% to settle at $2043.70 per ounce on the Comex division of the New York Mercantile. While, spot gold added by $7.42 points or 0.37% to $ 2,025.94 ounce.