Gold futures finished sharply lower on Monday marking second straight sessional fall, as soaring crude prices stoked inflation and sparked bets on aggressive Federal Reserve rate tightening. Additionally, firm dollar and rising bond yield notes pressured the yellow metal investments.
Gold futures for August delivery tumbled by $108.10 to 2.62% to settle at $4,005.70 an ounce on the Comex division of the New York Mercantile. While, spot gold up by $11.82 or 0.30% to $ 4,014.21 an ounce.