0102 GMT — Gold prices edged higher following dovish comments from some Fed officials. Atlanta Fed President Raphael Bostic argued there’s probably no need for more rate increases, ANZ analysts say in a research note. Despite recent hawkish comments from other Fed officials, the market is now pricing in almost no chance of a rate hike in December, ANZ says. Meanwhile, the precious metal has lost some upward momentum over the past two weeks as the Israel-Hamas war hasn’t escalated into a regional conflict, Oanda analyst Kelvin Wong says in a note. However, gold’s medium-term uptrend remains intact as long as the $1,903 support level holds, Wong adds. Spot gold edges 0.1% higher at $1959.82. ([email protected])
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