Asian markets opened with gold edging slightly higher, possibly boosted by a technical rebound.

Gold edged up slightly in early trading, possibly boosted by a technical rebound after the nearby gold futures contract on the New York Mercantile Exchange fell 1.2% overnight. Spot gold rose 0.1% to $5,012.08 per ounce. However, Joseph Dahrieh of Tickmill stated in an email, "Rising oil prices continue to exacerbate global inflation concerns." The managing director said, "This could prompt central banks around the world to adopt more cautious monetary policies, which could support bond yields and limit the short-term upside potential of gold."