Gold prices edged up on Wednesday, drawing some support from political uncertainty in the US before a major central banking conference there this week. Spot gold was up 0.3% to $1,287.83 an ounce at 2.14pm GMT, after shedding 0.5% in the previous session. US gold futures were up 0.2% to $1,293.20 per ounce. "Gold’s kind of hanging in there before this Jackson Hole meeting. It is in a wait-and-see mode but we should have a better idea of direction by the end of this week," Fawad Razaqzada, a technical analyst at FOREX.com, said. "There can be an argument made for a bearish view on gold at this stage. If the dollar were to come back due to short covering and given the rally in US stocks we saw yesterday, the (dollar) buck-denominated and safe haven metal could fall out of favour," he said. Markets are turning their focus to a meeting of central bankers in Jackson Hole, Wyoming, later in the week where Federal Reserve Chair Janet Yellen and European Central Bank chief Mario Draghi are ...
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