Gold edges higher in the early Asian session on possible position adjustments after front-month gold futures snapped a three-day winning streak overnight.
Speculative positioning in the precious metal appears to be elevated though not extreme, while retail demand seems to be slower, two members of Sucden Financial's research team say in a commentary. As such, gold could remain in a consolidation phase until a clearer dovish signal from the Fed emerges, the members add. Spot gold is little changed at $3,390.51/oz.
Source: Dow Jones Newswires
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