Gold edges higher in early Asian trade in thin holiday trading. Prices for the precious metal will likely be volatile in the near term, Zhengxin Futures says in a research note. U.S. Treasury yields have been on an upward trend, weighing on the non-interest-bearing precious metal. However, gold could continue to rise in the medium and long term as global central banks have started cutting rates and geopolitical tensions remain heightened. Concerns over the trajectory of U.S. inflation will likely rise after Donald Trump takes office in mid January, Zhengxin adds.
Spot gold is 0.1% higher at $2,624.10/oz.
Source : Dow Jones Newswires
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