Gold drops as dollar surges to six-week high


File pix - Bloomberg

BENGALURU: Gold prices slipped on Tuesday following a sharp drop the previous day, as the dollar hit multi-week highs ahead of U.S. Federal Reserve Chair Jerome Powell's appearance at a congressional committee.

Spot gold fell 0.9% to $1,895.38 per ounce by 0738 GMT. Prices fell more than 3% to $1,882.70 on Monday, the lowest level since Aug. 12. U.S. gold futures were down 0.5% at $1,900.20 on Tuesday.

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gold , silver , Federal Reserve , US dollar

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