Show Quick Read Summary is AI-generated, newsroom-reviewed

Gold prices inched higher on Wednesday, ahead of a widely expected interest rate cut from the Federal Reserve, although easing U.S.-China trade tensions kept bullion strength in check.

Spot gold was up 0.2% at $3,957.42 per ounce, as of 0257 GMT, after dropping to its lowest point since October 7 on Tuesday.

U.S. gold futures for December delivery eased 0.3% to $3,971.20 per ounce.

"The fuel for this short-term correction in gold is a readjustment of safe-haven instrument towards more response instrument like global equities due trade optimism," OANDA senior market analyst Kelvin Wong said.

Advertisement

"In the near-term gold faces downside pressure due to position adjustment from short-term leverage players and technical l

See Full Page