Gold futures traded lower in early deals of Monday, saddled by the bargain hunting after the yellow metal rates soared to a three-week high rate and logged weekly gain of 2.88%. Additionally, persisting elevated higher interest rates also dulled investment appeal of the non-yielding bullion. However, softer dollar, and weaker bond yield notes capped some losses in the session.
Gold futures for June delivery dipped by $13.2 or 0.56% to settle at $2361.80 per ounce on the Comex division of the New York Mercantile. While, spot gold down by $5.09 points or 0.22% to $ 2,355.41 an ounce.