Summary

• The ASX 200 edged lower despite Wall Street's overnight rise and strong prices for gold and iron ore
• The RBA's Statement on Monetary Policy today is expected to reveal a slightly more optimistic outlook for the Australian economy
• Gold set a new record high of $US2072/oz while iron ore rose 2.7% to move past $US120 a tonne
• The Aussie dollar remains at near 18-month highs and is currently worth US72.38c