Gold prices fell on June 22 morning, investors are focused on the upcoming comments of the head of the US Federal Reserve, Jerome Powell, regarding plans for monetary policy, Report informs referring to the auction data.

The price of August futures for gold on the New York Comex exchange fell by $10.25, or 0.56%, to $1,828.35 per troy ounce. July silver futures fell 1.79% to $21.385 an ounce.

The precious metal market observes negative dynamics on June 22 morning, as investors expect comments on the future course of the Fed monetary policy.

US Federal Reserve Chairman Jerome Powell is set to begin his speech to Congress on June 22 as investors seek further clues about whether another 75 basis point rate hike is expected at the July Fed meeting, Reuters reports referring to interviewed analysts.