Gold edges higher on bargain-hunting after correction

Reuters/Eric Onstad/10-05-17

Gold ticked higher on Thursday as some speculators bet that a slide from last month’s peak had run its course as they waited for more clues on whether U.S. interest rates would be raised.

…”Now the market is looking for data that can solidify the sentiment that the correction is over, but so far we haven’t really seen that. The Fed speakers later today and the job report tomorrow may give indications of whether the Fed wants to act or not in December.”

…”The North Korea news has died down but it could come back at any time. I would be pretty cautious to go short from here…”

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