Gold futures traded lower in early deals of Monday, saddled by the strength in dollar and on rising bond yield notes. Hawkish Jackson Hole remarks from Fed Chair Kevin Warsh amid persistent inflation boosted September rate hike expectations, dampening bullion’s investment appeal. The yellow metal for the most active contract marked about 3.2% loss for the week.
Gold futures for December delivery down by $62.10 to 1.37% to $4,467.80 an ounce on the Comex division of the New York Mercantile. While, spot gold dipped by $40.01 or 0.90% to $4,415.10 an ounce.