Gold edges lower in the early Asian session amid a cautious mood. The market still sees a high probability of another 25bps rate cut by the Fed in October, but the central bank's guidance leaned slightly hawkish, Sky Links Capital Group's Daniel Takieddine says in an email.
Fed officials seem reluctant to fully endorse deeper easing, with the FOMC meeting's outcome leaving the precious metal sensitive to coming economic data, the co-founder and CEO adds. Spot gold is 0.1% lower at $3,638.75/oz.
Source: Dow Jones Newswires
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