Gold futures traded sharply lower in early deals of Monday, after four straight sessional gains. The investment appeal of the bullion dulled with the rising bond yields and strength in dollar followed by President-elect Donald Trump's threat to impose 100% tariffs on BRICS countries. The yellow metal for the most active contract had marked a loss of 1.1% for the week.
Gold futures for December plunged by $29.50 or 1.10% to $2,651.50 ounce on the Comex division of the New York Mercantile. While, spot gold down by $14.84 or 0.56% to $2,628.31 per ounce.