Gold holds steady after snapping a run of four straight weekly losses.
Gold futures were little changed Monday, holding steady after snapping a run of four straight weekly declines, as investors awaited testimony this week by Federal Reserve Chair Jerome Powell.
Price action Market drivers “Over in the commodity complex, gold bounced back with force, rising more than 2% last week. In classic fashion, the precious metal took advantage of the pullback in real yields and the U.S. dollar, although it will be tough for this advance to continue for long in a regime where the Fed is expected to stay restrictive for longer,” said Marios Hadjikyriacos, lead investment analyst at XM, in a note.
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