Gold inches up on Brexit jitters, risk-on mood limits gains

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Gold prices edged higher on Wednesday after shedding nearly 1% in the previous s...

- Gold prices edged higher on Wednesday after shedding nearly 1% in the previous session, on uncertainties surrounding Britain’s negotiations to leave the European Union, while a risk-on sentiment capped the bullion’s gains.

Spot gold XAU=was up 0.1% at $1,482.54 per ounce as of 0725 GMT. U.S. gold futures GCv1 were 0.2% higher at $1,486.90 per ounce. However, a signed Brexit deal could push yields higher, which fundamentally are significant headwinds over the near term for gold, Innes added. Brexit talks will resume in Brussels on Wednesday morning after “constructive” negotiations that went into the night on Tuesday, a British spokesman said.

 

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