Gold futures traded in New York declined on Monday trading session snapping last week's rally amid speculation that the U.S. Federal Reserve may cut its stimulus measures sooner than expected pushing futures lower. Gold futures slipped 1.2% to $1,287.60 an ounce on Friday trimming their this year's gains to 7.1%, while they were last seen at $1,302.10 as of 9:24 a.m. New York time.