Gold Ends Weaker, Hits 7-Week Low; Yellen Remarks Benign

(Kitco News) – Gold prices ended the U.S. day session slightly lower and right about where the trading day began. Testimony from Fed Chair Janet Yellen in front of the U.S. Senate had no lasting effect on precious metals prices. The stronger U.S. dollar continues to be a bearish underlying factor working against the precious metals bulls. April Comex gold was last down $2.30 at $1,198.50 an ounce. May Comex silver last traded down $0.069 at $16.23 an ounce.

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