Gold has been a safe-haven hedge against Brexit uncertainty. Picture: AFP PHOTO/NOAH SEELAM
Yang said the safe-haven demand for the metal as a hedge against Brexit uncertainty declined after British legislators rejected leaving the EU without a deal. The dollar was higher against major currencies, after falling the most in two weeks in the previous session on soft US economic data. Data released earlier in the day showed China’s industrial output grew 5.3% in the first two months of this year, the slowest pace of expansion in 17 years.
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