Gold Edges Higher on Promising Outlook
Gold edges higher in early Asian trade on a promising demand outlook. Several fundamental factors, such as ongoing geopolitical uncertainties, expectations of continued central bank purchases, and the metal's traditional role as a safe-haven asset, should support the precious metal's prices, Tickmill analyst Joseph Dahrieh says in a research note.
"While potential headwinds such as dollar strength and the pace of interest rate adjustments may present challenges, the overall market sentiment suggests sustained support for gold prices," the analyst says. Investors tend to diversify their portfolios amid various economic and political risks, he adds.
Spot gold is 0.1% higher at $2,660.90/oz.
Source : Dow Jones Newswires