Gold futures traded higher in early deals of Monday, buoyed by the weakness in dollar and US Treasury bond yield notes. Moreover, latest US June PCE reading bolstering hopes for Fed rate cuts, and rising geopolitical tensions in the Middle East also supported safe-haven bullion investments. However, the yellow metal for the most active contract had logged 0.75% loss for the week.
Gold futures for August delivery tumbled by $12.40 or 0.51% to $ 2,440.30 per ounce on the Comex division of the New York Mercantile. While, spot gold added by $7.28 or 0.31% to settle at $ 2,394.47 an ounce.