Gold futures traded higher in early deals on Monday, as the weakness in dollar and the anticipations of more interest rate cuts by Federal Reserve also boosted yellow metal investments. Moreover, broader conflict in the Middle East and China’s additional monetary stimulus also bolstered bullion and is in track for its biggest quarterly gain since early 2016. The precious metal for the most active contract gained 0.82% for the week.
Gold futures for December delivery up by $8.30 or 0.31% to $2676.40 per ounce on the Comex division of the New York Mercantile. While, spot gold dipped by $3.52 or 0.13% to $2,654.72 an ounce.