Gold Edges Higher as Markets Weigh Fed Cut Expectations

Gold prices saw a slight increase in early Asian trading due to what is likely a technical adjustment. The precious metal had faced pressure earlier, influenced by market reactions to strong U.S. economic growth indicators. This economic backdrop has dampened expectations for larger Federal Reserve rate cuts. A selloff led to prices falling below the recent consolidation level of $2,624. Despite the modest rebound, with spot gold rising 0.1%, prices remain under the consolidation threshold at $2,622.27 per ounce.