Gold edges lower in early Asian trade, after touching another record-high on Tuesday. Investors await the Federal Reserve's rate decision, where interest rates are widely expected to be kept on hold.
The central bank's economic projections will also be closely monitored, says Bas Kooijman, CEO and asset manager at DHF Capital S.A. in a note. Any dovish signals may strengthen the precious metal's momentum, while a more cautious stance could limit its upside, Kooijman adds.
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 $3,030.98/oz.
Source : Dow Jones Newswires
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