Gold price edges higher for second straight session, Fed minutes awaited

November 22, 2017

New York (Nov 22)  Gold prices edged up for the second consecutive session on Wednesday and built on its steady recovery back above 100-day SMA.

A weaker tone around the US Dollar, led by sliding US Treasury bond yields was seen lending support to dollar-denominated commodities - like gold. The up-move, however, seemed lacking strong conviction amid global risk-on trade, which tends to weigh on the precious metal's safe-haven appeal.

Investors on Wednesday keenly awaited the release of minutes of the FOMC meeting held in November, which might provide some fresh insights over the central bank's monetary policy outlook post-December. 


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