Economic news

Gold slips before another Capitol Hill appearance by Powell

Gold prices extended their decline on Thursday after posting their first monthly fall since October as the dollar touched six-week top.

Gold futures for April fell 0.9%, to $1,306.30 an ounce, set to reach their lowest level for 2018.

Silver futures for May lost 1%, to $16.240 an ounce.

The ICE U.S. Dollar Index advanced 0.1% to 90.717, heading for its top in more than a month.

Investors focused on Federal Reserve Chairman Jerome Powell’s testimony before the Senate Banking Committee, where he may ease concerns that led to a fall for stocks and a rise in the dollar on anticipations the central bank could take more aggressive actions on monetary policy.

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