Gold Edges Higher; May Remain Rangebound Ahead of Key Econ Data
Gold edges higher in early Asian trade. Prices could trade within a narrow range before the release of key U.S. economic data, says XS.com's senior market analyst Rania Gule.
The precious metal may remain weighed by geopolitical concerns and the global economic situation affecting demand, Gule says. However, the declining U.S. dollar and falling markets could encourage some traders to take long positions, Gule adds. Spot gold is 0.1% higher at $2,744.10/oz.
Source : Dow Jones Newswires