Investing.com Gold prices gained in Asia on Wednesday with investors focused on the end of the week inaugural address by President-elect Donald Trump and a speech later in the day by Fed Chair Janet Yellen on monetary policy goals.
Gold for February delivery on the Comex division of the New York Mercantile Exchange rose 0.11% to $1,214.15 a troy ounce with silver futures for March delivery gained 0.14% to $17.172 a troy ounce.
Copper futures edged up 0.08% to $2.261 a pound after average new house prices in China's 70 major cities rose 12.4% in December from a year earlier, slowing slightly from a 12.6% increase in November.
Overnight, gold prices extended a recent rally to a seventh day on Tuesday, the longest stretch of gains since November, as the U.S. dollar plunged amid lingering uncertainty over Trump's economic policies.
The U.S. dollar collapsed to a five-week low against a basket of major currencies after Trump warned that the greenback was “too strong,” according to a report in the Wall Street Journal on Monday.
Anthony Scaramucci, a senior member of Donald Trump’s economic advisory council, reiterated that sentiment on Tuesday, warning about the risk from a stronger dollar.
Meanwhile, Trump warned that the border adjustment provision, a feature of House Republicans' plan that would tax imports and exempt exports, is "too complicated."
The comments added to growing uncertainty over U.S. economic policy ahead of Tump's inauguration later this week.
Elsewhere, British Prime Minister Theresa May confirmed Tuesday that Britain will be leaving the single market, but will try to secure an ambitious free trade agreement with the European Union.
In a closely watched speech on May's plans for exiting the European Union, the prime minister also said that parliament will get a vote on the final Brexit deal before it is implemented.