Gold futures traded lower in early deals of Monday, pressured by the rising bond yield notes after slower than expected US inflation data. The Federal Reserve’s preferred gauge of underlying inflation slowed to its lowest annual rate since 2021. Market is now eyeing on the US payrolls report and FOMC minutes due this week. However, the yellow metal for the most active contract gained 0.36% gain for the week.
Gold futures for August delivery down by $3.9 or 0.17% to $2335.70 per ounce on the Comex division of the New York Mercantile. While, spot gold down by $4.94 or 0.21% to $ 2,321.81 an ounce.