Gold edges up from 1-week lows on bargain hunting; focus on Fed

From reuters.com

Gold edged up on Tuesday after falling to a one-week low earlier in the session as investors used the drop in prices to buy the yellow metal with bullion holding a key technical level. The focus was on the U.S. Federal Reserve Chair Jerome Powell’s two days of testimony on monetary policy before the U.S. Congress starting on Wednesday. Spot gold rose 0.2% to $1,397.30 per ounce at 1:52 p.m. EDT (1752 GMT). Earlier, prices hit the session trough of $1,386.11, the lowest since July 2. U.S. gold futures settled at $1,400.05 per ounce. “The resurgence in U.S. dollar reaching a three-week high moved gold at lower ... (full story)