Gold futures finished sharply lower on Monday after four straight sessional gains, saddled by the strength in US Treasury bond yield notes and as dollar soared to an over two-year high. Additionally, potential Federal Reserve approach to slow the interest rate cuts also pressured yellow metal rates.
Gold futures for February delivery tumble by $36.40 or 1.35% to settle at $ 2,678.60 ounce on the Comex division of the New York Mercantile. However, spot gold rose by $7.98 or 0.30% to $2,671.14 an ounce.