Gold futures finished higher on Monday, kindled by the weakness in dollar and on less than expected US job growth for August ahead to US inflation data release this week. Less restrictive monetary policy supports bullion, as it reduces the opportunity cost of holding non-interest-bearing yellow metal. Moreover, lingering geopolitical concerns and jitters over potential recession also kindled the safe haven appeal of the precious metal.
Gold futures for December delivery up by $8.10 or 0.31% to $2,532.70 per ounce on the Comex division of the New York Mercantile. While, spot gold down by $4.47 or 0.18% to settle at $2,501.91 an ounce