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Gold prices fall ahead of Fed Chairman's testimony
Gold prices fell on Thursday, ahead of the release of economic data and Fed Chairman's testimony, as the dollar rallied.
US Federal Reserve Chairman Jerome Powell is due to give his second testimony later in the day with expectations he will not back down from his comments that the Fed will raise interest rates more than expectations.
By 0625 GMT, the price of gold futures for April delivery fell 0.3 percent to $ 1313.8 an ounce.
The spot price of yellow metal fell at $ 1313.5 an ounce, up 0.4%.
In his testimony on Tuesday, Powell announced that the appropriate course of monetary policy over the next few years would be to strike a balance between averting economic decline and achieving inflation at the bank's 2 percent target on a sustainable basis.
Data on the ISM industrial production index and US construction spending are also due to be released.
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