Gold Eases to $1155 on U.S. Rates

Gold stretched losses from the previous session on Tuesday as the dollar clung to gains on expectations the U.S. Federal Reserve is on course to increase interest rates this year.

Fed Chair Janet Yellen may provide more signals of a looming rate hike at her semiannual testimony to Congress on Wednesday and Thursday, shifting global focus back to the U.S. central bank from Greece which secured an 86-billion-euro bailout in exchange for tough reforms.

Spot gold was down 0.2 percent at $1,155.26 an ounce by 0035 GMT, after dropping as much as 1.1 percent on Monday.  U.S. gold for August delivery was flat at $1,154.60 an ounce.


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