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Gold prices steady as investors await Yellen's testimony

Reuters  |  BENGALURU 

By Nithin ThomasPrasadBENGALURU (Reuters) - Gold held steady on Wednesday as 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," 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 when the Fed will start reducing its $4.5 trillion ...

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First Published: Wed, July 12 2017. 14:19 IST