Gold edged await the US GDP data

Gold edged higher on Asian session supported postponement opportunity interest rate hike in September. President of the Federal Reserve of New York who is also a member of the Federal Open Market Committee (FOMC), William Dudley, said the prospect of a rate hike in September looks "inconclusive" weigh the risk of financial market instability the last few days on the US economy.

Wall Street rallied sharply abolish selloff during the six-session losing streak and revived investor confidence in the Asian market to buy back shares. Financial market re-entered the stock market and this limits the rise in gold.

Investors will return into account the chances of a rise in US interest rates through the data a second estimate of Gross Domestic Product (GDP) for the second quarter as well as data weekly US unemployment claims. Based on the results of a Reuters survey of economists, the US second quarter GDP is expected to be revised higher to 3.2% growth compared to the initial estimate of 2.3% ie growth. The actual data is higher than expected to boost the US dollar and gold dropped back otherwise.