Gold edges higher in the early Asian session amid geopolitical tensions that typically enhance its safe-haven appeal. Ukraine on Tuesday attacked the Kerch Bridge, which connects occupied Crimea with Russia.
"Geopolitical tensions add to the appetite for gold and could support a return to the upside," DHF Capital's Bas Kooijman says. Also, worries over fiscal imbalances and expectations for Fed rate cuts later this year should continue to lend support to the precious metal, the CEO and asset manager adds. Spot gold is 0.2% higher at $3,358.83/oz.
Source: Bloomberg
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