Gold futures traded lower in early deals on Monday, as the investment appeal of the bullion dulled on firmer US dollar, de-escalation in Middle East tensions and diminished expectations for further US interest rate cuts. While, investors are awaiting U.S. data releases this week, including the September nonfarm payrolls report for clues on the health of the American economy & possible some direction on the Fed’s rate outlook.
Gold futures for December delivery lost by $9.4 or 0.23% to $4084.8 per ounce on the Comex division of the New York Mercantile. While, spot gold down by $1.25 points or 0.03% to $ 4,082.81 ounce.
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