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Gold Edges Higher, Aided by Growing Fed Rate-Cut Bets

Gold edges higher in the early morning Asian session, aided by growing Fed rate-cut bets. Those expectations are being driven by data released overnight which showed the number of U.S. job openings sank in April to a more-than three-year low. The precious metal's bias leans toward upward movement amid strong expectations of the Fed cutting rate later this year, says Rania Gule, market analyst at XS.com, in a commentary. Traders may prefer to wait for key U.S. data releases this week, such as non-farm payrolls report due out Friday, Gule adds. Spot gold is up 0.1% at $2,328.22/oz.