Gold futures traded lower in early deals on Monday, on firmness in dollar ahead to release of US inflation data and a series of Federal Reserve speeches this week. Speculations that Federal Reserve interest rate cuts might slow down than previously anticipated, counting on the US president-elect’s policies focusing on increasing tariffs, trimming taxes, and deregulation, which will widen deficits and spur inflation. The yellow metal for the most active contract had marked loss of about 2% for the week.
Gold futures for December delivery down by $17.10 or 0.63% to $2,677.70 per ounce on the Comex division of the New York Mercantile. Spot gold slipped by $15.63 or 0.58% to $2,669.14 an ounce.