Gold edges lower in early Asian trade as traders weigh continued signs of strength in the U.S. economy against policy uncertainties that have fueled a surge in demand for the haven metal. "Trump's policies have proven to create an environment of strength," says Raddington Group CEO Yassin K. Fawaz.
With inflation still above the Fed's target and the economy on solid footing, many now think interest rates will stay high for a while, dampening the appeal of non-interest-bearing assets like gold, he says. That said, Trump's approach to international relations and tough stance on trade is also keeping markets on edge, he adds, injecting the kind of unpredictability that traditionally pushes investors toward assets like gold.
Spot gold is down 0.1% at $2,933.03/oz.
Source : Dow Jones Newswires
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