Gold edged higher on Wednesday as risk aversion in global markets boosted demand for safe-haven assets. At the time of writing, gold was trading around $4,113, up nearly 1%, continuing its recovery after briefly dipping below $4,000 on Tuesday.
Global stocks remain under pressure amid concerns about overvalued valuations of technology companies, keeping investors on the defensive ahead of Nvidia's earnings announcement. Sentiment is also cautious ahead of the release of the Federal Open Market Committee meeting minutes later today, as markets brace for the delayed September non-farm payrolls report due on Thursday. Meanwhile, the risk-averse atmosphere is helping gold maintain its upward momentum.
However, growing doubts among Federal Reserve officials about cutting interest rates again in December are casting a shadow over monetary policy expectations.