Overview Gold prices held steady on Tuesday, trading within a narrow range as market participants eagerly awaited guidance from U.S. Federal Reserve Chair Jerome Powell’s upcoming testimony before Capitol Hill. Recent price movements in gold have lacked follow-through, with intermittent bounces restrained by stronger Treasury yields, limiting the upside for the non-yielding precious metal. While gold typically acts as an inflation hedge, the rising opportunity cost of holding the non-yielding metal due to potential rate hikes has impacted its performance.