Gold prices edge lower

London (Jan 25)  Gold prices declined on Wednesday as investors turn to risk-on mode, amid anticipation of President Donald Trump’s next moves after withdrawal from the 12-nation Trans-Pacific Partnership (TPP) trade pact.

Spot gold levelled down 0.3% to $1,204.06 per ounce by 4:40am GMT.

US gold futures for February delivery increased 0.48% to $1,204.85 per ounce.

Gold prices are expected to stabilise at their current levels, and see weak trading amid absence of new economic data and significant events, according to Mohamed Zeidan, analyst at ThinkMarkets.

Silver fell 0.77% to $17.053 per ounce during the same time.

The US dollar (DXY), which tracks it against a basket of six currencies, fell 0.07% to 100.19 points.

Slowdown in the dollar's fall may push gold prices to see a volatile performance and not to complete their correction to reach $1,250 per ounce, Zeidan added.

Source: Mubasher