Gold futures traded higher in early deals of Monday, kindled by the weakness in dollar ahead to the uncertainties surrounding upcoming US presidential election and the Federal Reserve's policy decision. Anticipations that a second Trump presidency would trigger inflation through expansionary fiscal policies and higher tariffs has recently led investors to hold gold as a hedge against long-term inflation risks. Besides, renewed tensions in the Middle East continued to boost the safe-haven appeal of bullion.
Gold futures for December delivery up by $1.20 or 0.04% to settle at $2,750.40 per ounce on the Comex division of the New York Mercantile. While, spot gold rose by $ 5.05 or 0.18% to $ 2,741.58 an ounce.