Gold futures drop $10 today

Gold prices eased today, June 20 despite stable US dollar, as the Federal Reserve Chair Jerome Powell will give a congressional testimony later in the week for cues on future rates.

Gold for August delivery traded 0.52%, or $10.3, lower at $1,960.9 an ounce at 09:09 am Makkah time, with spot prices held firm at $1,950.89 per ounce.

Silver futures edged down 0.67% to 16 cents, to $24.18 an ounce. Platinum spot prices dropped 0.75% to $971.31 an ounce.

Meanwhile, the US dollar index, which gauges the greenback's strength against a basket of six currencies, was steady at 102.55 points.

Further, China cut the one-year loan prime rate as expected.