7 days ago
- Business
- Wall Street Journal
Gold Edges Higher on Possible Position Adjustments
2340 GMT — Gold edges higher in the early Asian session on possible position adjustments. However, diminishing Fed rate-cut expectations spurred by U.S. CPI data released overnight could cap gains. Also, the U.S.' passage of the 'One Big Beautiful Bill Act' and coming trade deals help reduce U.S. growth worries and weigh on gold demand, Citi Research's Kenny Hu says in a research report. 'We continue to highlight our view that we may have seen gold price highs at $3,500/oz as the market deficit is peaking soon, if not already,' the analyst adds. Spot gold is 0.2% higher at $3,330.11/oz. (
