Gold futures traded lower in early deals on Monday, pressured by a stronger dollar and rising bond yields. Additionally, hawkish tone from the Federal Reserve, and cooling geopolitical tensions surrounding fluctuating US-Iran negotiations have trimmed the perceived safe-haven appeal of the bullion. The yellow metal for the most active contract had marked a 1.55% loss for the week.
Gold futures for August delivery tumbled by $49.10 to 1.16% to $4,196.80 an ounce on the Comex division of the New York Mercantile. Spot gold rose by $20.87 or 0.50% to $4,176.58 an ounce.
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