Gold edges up, dollar barely higher

Gold futures tilted higher in Asian trade as the dollar index climbed form April 2018 lows for the tenth session out of 14, ahead of US trade data today. 

As of 06:41 GMT, gold futures due in December rose 0.38% to $1,958 an ounce, while the dollar index rose 0.02% to 92.91. 

From the US, the current account deficit is expected up to $158 billion from $104 billion in the first quarter, while the University of Michigan's consumer sentiment survey is expected up to 75 from 74.1. 

The US Federal Reserve held the interest rate between zero and 0.25%, and signaled that it plans to keep near zero at least until the end of 2023.

The central bank raised its estimates for the GDP in 2020, and lowered its forecasts for the unemployment rate to 7.6% due to the rapid recovery of the economy during this summer.

Federal Reserve Chairman Jerome Powell confirmed the bank’s ability to support the US economy to return to its growth path, adding that Fed remains committed to using full range of tools.