Gold edges down on stronger dollar, market awaits US inflation data

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Kelvin Wong Nouvelles

Gold Prices,Inflation Report

Gold prices slipped on Wednesday as the dollar ticked up, while investors awaited a key U.S. inflation report due this week for more clarity on the size of a...

- Gold prices slipped on Wednesday as the dollar ticked up, while investors awaited a key U.S. inflation report due this week for more clarity on the size of a likely September rate cut.

The short-term trend for gold remains strong, with the potential to hit new highs. In the longer term, it may face resistance around the $2,585 to $2,595 range, Wong added. A report on Tuesday showed that U.S. consumer confidence rose to a six-month high in August but Americans are becoming more anxious about the labour market.

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