- Spot gold was off 0.2 percent at $1,196.98 an ounce by 0036 GMT, after rising for a second week in a row last week.
- It touched a three-week peak of $1,219.40 on Thursday.
- Bullion is headed for a second consecutive monthly drop in March as a looming U.S. rate hike dims the appeal of a non-interest bearing asset.
- Yellen said on Friday that an increase in the Fed’s benchmark rate “may well be warranted later this year” given sustained improvement in U.S. economic conditions.
The material has been provided by InstaForex Company – www.instaforex.com