WASHINGTON (dpa-AFX) - Gold prices were subdued on Tuesday and the dollar held steady, as investors looked ahead to Fed Chair Jerome Powell's testimony for fresh clues on the outlook for interest rates.
A slew of U.S. reports on housing starts, home prices and consumer confidence may also shed some light on the economy.
Spot gold as well as U.S. gold futures were marginally lower at $1,326.96 per ounce and $1,328.95 per ounce, respectively.
Powell will appear before the Senate Banking Committee today to share his semiannual update on the state of the U.S. economy.
It is expected that he will elaborate on how long the central bank needs to be 'patient' with its path of monetary policy and how it plans on ending the process of shrinking its balance sheet.
There will be another round of testimony in the House on Wednesday.
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