Gold futures finished sharply lower on Monday, on technical correction after President Donald Trump clarified that gold would not be subject to tariffs, dispelling earlier reports that suggested bullion imports could face duties. Speculation surrounding the resolution of the Russia-Ukraine war, stronger dollar and rising bond yields also saddled the precious metal investments.
Gold futures for December delivery down by $86.60 or 2.48% to $3,404.70 an ounce on the Comex division of the New York Mercantile. While, spot gold rose by $10.57 or 0.32% to $3,352.94 an ounce.