Gold edges lower in early Asian trade, as investors await the Federal Reserve's rate decision this week, when interest rates are widely expected to be kept on hold.
"A change in the tone of the Federal Reserve could affect the direction of the market," says Harbourfront Wealth - Sonora Wealth Group in a note. However, the global economic outlook under the Trump administration could continue supporting gold prices, says its investment advisor Miro Svoboda.
Gold typically has an inverse relationship with interest rates, with high rates damping demand for the non-interest-bearing metal.
Spot gold is 0.1% lower at $2766.65/oz.
Source : Dow Jones Newswires
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