Gold prices rose on Tuesday, to extend recovery attempts from a 2-month low for the second straight day, as the US Treasury bond yields fell ahead of Federal Reserve Chairman Jerome Powell's testimony before the US Congress. 

Gold prices rose 0.4% to $1,790.09 an ounce, after opening at $1,782.91, and hit a low of $1,776.36.

Gold closed higher by 1% yesterday,  within recovery attempts from a 2-month low of $1,760.80 an ounce.

Gold lost 6% last week, in the third straight weekly loss, and the largest since March 2020, after the Federal Reserve raised interest rates and inflation expectations.

The 10-year US Treasury yield fell 2% today, diving near a 4-month low of 1.354%.

New York Fed chief John Williams said it's still early to change the US monetary policy, and forecast inflation to fall from 3% this year to 2.0% in 2022 and 2023.

At 18:00 GMT, Federal Reserve Chair Jerome Powell will testify on the Fed’s emergency lending programs and current policies before the House Select Subcommittee on the Coronavirus Crisis, via satellite.

Gold stocks at the SPDR ETF fell 3.5 metric tonnes yesterday, with the total at 1,049.56 metric tonnes, after hitting the highest level since March 11 at 1,053.06 metric tonnes.

USD/JPY tilted higher in Asian trade off June 14 lows following earlier data from Japan and amid a lack thereof from the US, and ahead of Fed Chair Jerome Powell's Congressional testimony today.

As of 06:52 GMT, USD/JPY rose 0.16% to 110.45, with an intraday high at 110.48. 

From Japan, core consumer prices were unchanged as expected in June, compared to a 0.1% dip in May. 

Federal Reserve Bank of San Francisco President Mary Daly is due to speak at an online event hosted by the Peterson Institute for International Economics.

The Federal Reserve decided last week to keep the interest rate near zero and forecast 2 interest rate hikes in 2023, and raised its forecast for US GDP growth this year to 7% from 6.5% in March.

Federal Reserve Chair Jerome Powell will testify on the Fed’s emergency lending programs and current policies before the House Select Subcommittee on the Coronavirus Crisis, via satellite.

Oil prices rose on Monday, as the US dollar fell against most major currencies, and thanks to positive global demand expectations.

The US Federal Reserve decided last week to keep the interest rate near zero and forecast 2 interest rate hikes in 2023, and raised its forecast for US GDP growth this year to 7% from 6.5% in March.

The dollar index fell against a basket of major currencies by 0.4% to 91.8 points as of 18:04 GMT, after hitting a high of 92.3 points and a low of 91.9 points.

As of 18:05 GMT, WTI crude July futures rose 2.6% to $73.5 a barrel, after hitting a high of $73.9 and a low of $71.1.

Brent August futures rose 1.8% to $74.8 a barrel, after hitting a high of $74.9 and a low of $72.9.

US stock indices rose on Monday, lifted by strong demand after last week's sell-off.

The Federal Reserve decided last week to keep the interest rate near zero and forecast 2 interest rate hikes in 2023, and raised its forecast for US GDP growth this year to 7% from 6.5% in March.

The US Treasury yield for 2023 fell below 2% today for the first time since last February, and the the 10-year bond hit a 4-month low.

To the oil market, WTI crude July futures rose 2.8% or $2.02, and closed at the highest level since October 2018 at $73.66 a barrel, after hitting a high of $73.9 and a low of $71.1.

Brent August futures rose 1.9% or $1.39, and closed at $74.90 a barrel, after hitting a high of $74.9 and a low of $72.9.

As for stocks, Dow Jones rose 1.8% or 587 points, and closed at 33,876, with a day high of 34,908, and a low of 33,312.

Nasdaq rose 0.8% or 111 points to 14,141, with a high of 14,150 and a low of 13,960.

S&P 500 rose 1.4% or 58 points to 4,224, after hitting a high of 4,226 and a low of 4,173.