Gold futures headed sharply lower on Monday, failing to derive support from a weaker U.S. dollar or a selloff that was taking shape in global markets to start a week that appears rattled by worries about growing evidence of rising cases of coronavirus.
Some market participants said the downturn in bullion may signal the momentary uneasiness by investors around the pandemic but the failure of the dollar to rise as it did during the rout for financial markets in March may signal that the apparent deterioration in the appetite for risk on Wall Street may be a temporary one.
