• Gold prices edged up on Wednesday as tensions on the Korean peninsula stoked safe-haven demand for the metal, while the release of minutes from the U.S. Federal Reserve's last meeting was also in focus.
• Spot gold had risen 0.18 percent to $1,225.81 per ounce by 0057 GMT.
• Spot gold is expected to test support at $1,217 per ounce, with a good chance of breaking below this level and falling more towards the next support at $1,211, according to Reuters technical analyst, Wang Tao.
• Speaking with Bloomberg, UBS’ executive director for commodities and foreign exchange Wayne Gordon said, “We’re not saying we have a bullish bias; we’re not saying we have a bearish bias.”
But with prices hovering near $1,220 an ounce, after a sharp sell-off earlier in the shorterned trading week, Gordon added that he sees a good buying opportunity in gold near current levels.
“We’re saying that tactically, people should be buying it somewhere near $1,200 and selling it again somewhere near $1,300,” he said.
• Gold sentiment among Western investors fell from May's five-month high last month as global stock markets set new records.
Investors on BullionVault, the biggest online market for physical precious metals, cut their total gold holdings for the third consecutive month in June.
Reference: Kitco, City AM, Reuters
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