RTRS: Gold falls 1 pct as risk aversion knocks commodities
LONDON (Reuters) - Gold fell more than 1 percent to $1,089.75 an ounce as a price slip below $1,100 an ounce sparked technical selling, and amid caution ahead of Federal Reserve chair Ben Bernanke's congressional testimony later in the day.
Bernanke's testimony is likely to include debate over financial regulation and questions over the central bank's evolving strategy to remove unprecedented monetary stimulus from the financial system.
Spot gold later recovered from its fall to its lowest level since February 12 and was bid at $1,091.25 an ounce by 0946 GMT, against $1,102.95 late in New York on Tuesday.
