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Nov 13 - Gold prices edged higher on Wednesday, steered by speculative buying and a pause in the dollar's rally, even as inflation data showed slower progress on easing price pressures, indicating fewer rate cuts into next year.
"The market had become quite oversold as a result of the post-election sell-off. So I think that there's been some profit-taking and perhaps some speculative buying at these levels," said Peter Grant, vice president and senior metals strategist at Zaner Metals. Investors believe Trump's presidency might cause the Fed to pause its easing cycle if inflation takes off after expected new tariffs.
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