Gold edges lower in the early Asian session on a likely technical correction after front-month gold futures settled at a record high overnight.
The precious metal is now looking increasingly likely to reach and possibly exceed $3,000/oz level in the coming sessions, says Fawad Razaqzada, market analyst at City Index and FOREX.com, in an email. The greenback continues to stay mostly under pressure and, with the U.S. government bond yields falling and stock markets volatile, it's a positive environment for the safe-haven asset, the analyst adds. Spot gold is 0.1% lower at $2,986.42/oz.
Source: Marketwatch
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