Early in the Asian market session, gold prices have edged slightly lower, possibly due to a technical correction.

After the recent record-breaking rally in gold futures on the New York Mercantile Exchange, the price of gold in Asia fell slightly in early trading due to the possibility of a technical correction. Spot gold fell by 0.1% to $3,637.95 per ounce. Frank Walbaum of Naga said, "After the strong rally, the market may face some risk of price correction in the short term." The market analyst added that investors should pay attention to this week's Federal Open Market Committee meeting in the United States and new economic data, as these may impact the direction of the precious metal.