Gold futures traded sharply lower in early deals on Monday, as the safe haven appeal of the bullion lost its lustre with the US-China trade talks in progress. Rising bond yield notes also pressured the precious metal investments. The yellow metal for the most active contract had marked 1.8% loss for the week.
Gold futures for December delivery tumbled by $48.30 or 1.17% to $4,089.50 an ounce on the Comex division of the New York Mercantile. Spot gold down by $48.61 or 1.18% to $4,064.44 an ounce.