Gold futures traded sharply higher in early deals on Monday, kindled by the weakness in the dollar and on decline in bond yield notes after the US and Iran reached a peace agreement that would reopen the Strait of Hormuz. The yellow metal for the most active contract had marked a loss of about 2.9% for the week.
Gold futures for August delivery dipped by $109.20 to 2.58% to $4,348.00 an ounce on the Comex division of the New York Mercantile. While, spot gold down by $106.82 or 2.53% to $4,326.15 an ounce.