Gold futures traded higher in early deals on Monday, rebounding after the yellow metal for most active contract posted weekly loss of 1.64%. Moreover, anticipations over interest rate trims later in the year and dip in bond yield notes also supported the precious metal investments. Lower rates reduce the opportunity cost of holding non-yielding bullion, increasing its appeal.
Gold futures for June delivery up by $0.5 or 0.02% to settle at $ 2310.10 per ounce on the Comex division of the New York Mercantile. While, spot gold rose by $8.09 points or 0.35% to $2,309.83 an ounce.