Gold edges lower in the early Asian trade, after hitting a record high on Tuesday. There has been growing unease among investors about U.S. monetary policy, ANZ Research analysts write in a note.
The Trump administration is looking to remake the Fed's board of governors with candidates more amenable to the President's policies, they say.
Investors await the U.S. nonfarm payrolls data for August due Friday, which would shape the Fed's rate path trajectory. Weak data could benefit non-yielding assets, including precious metals, says Frank Walbaum, a market analyst at Naga, in a note. Spot gold is 0.1% lower at $3,529.40/oz.
Source: Bloomberg
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