Gold pares losses as Yellen seen taking ‘a little pressure off

Gold prices on Tuesday edged down but finished off their session low after Federal Reserve Chairwoman Janet Yellen gave testimony to Congress.

Gold for April delivery GCJ5, +0.95% settled down $3.50, or 0.3%, at $1,197.30 an ounce. The contract dropped to an intraday low as Yellen’s prepared remarks hit, but then recovered much of that slide. Still, gold suffered a third straight session of declines, and it finished under the closely watched level of $1,200.