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Gold inches up on dollar, awaits cues from Yellen testimony

Reuters  |  BENGALURU 

By Nithin ThomasPrasadBENGALURU (Reuters) - Gold edged up for a third day on Wednesday on a weaker U.S. dollar while investors awaited testimony from U.S. Federal Reserve Chair Janet Yellen and central bank officials expressed caution about further interest rate hikes."Gold's near-term direction will now be at the mercy of whether we get a hawkish Yellen on the Hill (on Wednesday)." said Jeffrey Halley, senior market analyst at OANDA.Yellen is set to give her semi-annual monetary policy testimony before Congress later on Wednesday and on Thursday, and investors will be parsing it for clues on ...

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First Published: Wed, July 12 2017. 11:19 IST