Gold futures declined on Monday as the euro weakened against the dollar on fears of policy action from the European Central Bank, shrugging off safe-haven demand from escalating violence in Ukraine. Further, the speculation that the Federal Reserve will press on with reducing monetary stimulus also weighed on the precious metal price.
Gold futures for June delivery edged down $4.6 at $1283 an ounce on the Comex division of the New York Mercantile Exchange. While spot gold fell 0.5 percent to $1,282.50 an ounce.
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