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Gold drops as dollar extends gains; focus on Fed commentary

old fell for a second straight session on Tuesday as the dollar climbed to a near two-month peak, with investors keeping a close eye on remarks from U.S. Federal Reserve officials on the state of the economy. The path ahead for the economy remains uncertain and the U.S. central bank will do more if needed, Federal Reserve Chair Jerome Powell told a congressional panel on Tuesday. https://www.reuters.com/article/idUSKCN26D0V0

Gold steadies as fresh lockdowns offset firm dollar (Reuters)

Earlier in the day, a firmer U.S. dollar dented gold's appeal, with the dollar index holding on to overnight gains against its rivals. A firmer dollar makes bullion more expensive for holders of other currencies. "Gold is now more sensitive to the U.S. dollar rather than any other factors," said Margaret Yang, a strategist with DailyFx, which covers currency, commodity and index. https://in.reuters.com/article/global-precious/precious-gold-steadies…

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