Gold edged higher early in the Asian session, boosted by growing expectations of a US interest rate cut next month. However, "without a clear shift in dovishness from the Fed, which has yet to materialize, we expect the precious metal to trade within a price range," Sucden Financial said in its daily note. Lower interest rates reduce the opportunity cost of holding gold, which does not pay interest or dividends. Spot gold rose 0.1% to $3,378.35/oz. Spot silver was unchanged at $37.40/oz.
Source: Dow Jones Newswires
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