Investing.com – Gold prices edged higher for the first time in three sessions on Wednesday, but gains were limited as investors continued to buy risk assets and sell havens.
Comex were at $1,334.98 a troy ounce by 3:00AM ET (0700GMT), up $2.30, or around 0.2%. It fell to its lowest since Sept. 1 at $1,326.70 in the prior session.
Gold prices , as investor interest in assets, such as stocks, that are perceived as riskier, found buying interest on fading worries surrounding North Korea and Hurricane Irma.
Prices of the yellow metal rallied to a more than one-year high of $1,362.40 last Friday, when Hurricane Irma threatened Florida and as financial markets braced for the possibility of another missile or nuclear test by North Korea for the Sept. 9 anniversary of its founding.
Investors were now turning their attention to upcoming U.S. economic data for fresh clues on the timing of the Federal Reserve’s balance sheet reduction and its ability to raise interest rates again this year.
A report on is due at 8:30AM ET (1230GMT), followed by closely-watched on Thursday.
Markets remain skeptical the Fed will raise rates again before the end of this year due to worries over the subdued inflation outlook, but it is widely expected to start the process of reducing its balance sheet sometime this fall.
Elsewhere on the Comex, inched up 4.1 cents, or about 0.2%, to $17.93 a troy ounce. It rose to a more than four-month peak of $18.29 late last week.
Among other precious metals, was little changed at $986.45, while tacked on 0.3% to $946.25 an ounce.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.