Gold futures traded lower in early deals on Monday, pressured by the strength in dollar amidst renewed tariff concerns as Trump announced plans to impose tariffs and sanctions on Colombia after the country refused to allow US military planes carrying deported migrants to land. Meanwhile, investors keenly eyed on US Federal Reserve’s policy decision later this week. The yellow metal for the most active contract had marked weekly gain of 1.2%.
Gold futures for February delivery down by $17.00 or 0.62% to $2,761.70 ounce on the Comex division of the New York Mercantile. Spot gold dipped by $8.83 or 0.32% to $2,761.75 an ounce.