Gold futures were edging lower on Tuesday with the U.S. dollar remaining firm and as the market awaited testimony from Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin later in the session.
The economic uncertainty created by the coronavirus pandemic has been one key factor underpinning bullion's rally in recent weeks.
August gold fell $2.70, or 0.1%, at $1,778.70 an ounce, after rising less than 0.1% on Monday. Early last week, gold touched its highest level since 2012 as infections of COVID-19 accelerated. In the first half of the year, prices based on the most-active contracts traded about 17% higher, over the quarter the commodity has gained 8.3%, and 1.6% in June thus far, according to data from FactSet.
Source : Marketwatch