Reuters/Marcy Nicholson & Maytaal Angel/06-13-17
Gold turned slightly higher on Tuesday, as the market awaited signals of future monetary tightening by the U.S. Federal Reserve and a Senate panel’s questioning of Attorney General Jeff Sessions about his dealings with Russian officials.
The Fed is widely expected to raise interest rates when it concludes its meeting on Wednesday, although investors will focus on any new hints on the pace of hikes this year and its assessment of the economy and inflation.
Gold prices turned higher about an hour-and-a-half before Sessions faced questions about his dealings with Russian officials and whether he intentionally misled Congress, as a Senate panel investigates alleged Russian meddling in the 2016 U.S. presidential election.
