Spot gold was little changed at $1,205.06 an ounce by 0637 GMT, close to $1,201.20, the metal's lowest since May 13 reached in the previous session.
Yellen was clearer than ever on Friday that the
central bank was poised to raise interest rates this year, as the U.S. economy was set to bounce back from an early-year slump and headwinds at home and abroad waned.
“Yellen's comments and the positive impact it has had on the dollar is not helping gold,” said a trader in Singapore.
Courtesy: Daily News 26 May 2015