21.06.201608:41:00UTC+00Gold Loses Shine Ahead Of Yellen, Brexit Vote

Gold futures tumbled Tuesday ahead of semi-annual testimony from Federal Reserve Chair Janet Yellen.

The Fed boss will be grilled by congressional lawmakers over her murky outlook on interest rates in the wake May's brutal jobs report.

Meanwhile, gold's safe haven appeal is taking a hit amid speculation the UK will vote to stay with the European Union.

Gold prices ran higher last week when polls showed a willingness to leave, but UK voters now appear reluctanct to ditch the EU>

Gold for August was down $17 at $1275 an ounce, having topped out above $1300 last week.