Gold futures traded lower in early deals of Monday, saddled by the firmness in dollar and US Treasury bond yield notes after updated economic projections from Fed officials suggested only one quarter-point cut for this year. However, the yellow metal for the most active contract had settled sharply higher on Friday and marked first weekly rise of 1.3%, after three straight weekly falls.
Gold futures for August delivery down by $9.70 or 0.41% to settle at $2339.40 per ounce on the Comex division of the New York Mercantile. While, spot gold dipped by $8.56 or 0.37% to $2,324.48 an ounce.