Gold prices ended lower in the previous session after four consecutive sessions of gains. Gold December futures contract settled at $1,994.30 per troy ounce, down 0.56 per cent, in the previous session.
Gold prices traded lower in the domestic futures market, mirroring the global trend, as the US dollar and Treasury yields jumped amid prospects of higher interest rates.
Gold prices may remain volatile in the short term due to uncertainty surrounding the US Fed s interest rate trajectory. However, experts believe the medium to long-term outlook for gold remains positive, especially after rate cuts begin.