Solid Gold Berjangka | Gold Rises; Rangebound Trade May Continue
Gold edges higher in Asia morning trade. The precious metal has been broadly pulling back in recent months as investors remain cautious over the Fed’s tightening trajectory.
Galaxy Futures analysts reckon investors are likely to stay on the sidelines for now as the market awaits U.S. CPI data due later today. Technical analysis also suggests likely rangebound trading for the commodity in the near term, Galaxy Futures adds.
Spot gold is up 0.2% at $1,918.03 an ounce.
Source: Marketwatch
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