Gold Price Lower, Litany Of Fed Speakers On Tap Including Yellen

London (Mar 3)  Gold futures continued to slide Friday morning amid mounting expectations the Federal Reserve will hike interest rates in March.

Traders anticipate Fed Chair Janet Yellen will make the case for an imminent rate hike when she speaks this afternoon.

Her remarks will be the last from a Fed official before the "quiet period" ahead of the March 14 rate-setting meeting of the FOMC.

Fed Vice-Chairman Stanley Fischer, Chicago Fed President Charles Evans, Richmond Fed President Jeffrey Lacker and Fed Gov Jerome Powell will also further clarify their monetary policy stance today.

A number of voting members have hinted this week they are in favor of raising rates soon, as inflation is picking up and the jobs market appears quite healthy.

Gold for April was down USD5 at USD1227 an ounce, the lowest since mid-February.

Source: AllianceNews