Gold futures trade slightly lower in early deals on Monday

Gold futures traded slightly lower in early deals on Monday, as safe haven appeal dulled with the anticipations over quick deal in US debt ceiling to avert default of the country. However, some of the losses remained capped on softer dollar. The precious metal for the most active contract had marked third straight weekly fall by 1.9%.

Gold futures for June down by $0.10 or 0.01% to $1953.90 ounce on the Comex division of the New York Mercantile. While, spot gold slipped by $0.78 or 0.04% to $1,945.68 per ounce.