Gold futures trade sharply lower in early deals of Monday
Gold futures traded sharply lower in early deals of Monday, marking the sharpest weekly drop since 1983. The yellow metal for the most active contract had plunged about 9.6% this week, marking third straight weekly loss. The bullion investments tumbled after the dollar and 10 year bond yield notes spurred as perceived safe havens amidst escalating Middle East tensions and shifting interest rate bets.
Gold futures for June delivery tumbled by $206.20 to 4.47% to $4,403.40 an ounce on the Comex division of the New York Mercantile. While, spot gold plunge by $ 126.36 or 2.81% to $4,366.06 an ounce.
