Gold traded above $1,300 an ounce as a key measure of underlying U.S. inflation unexpectedly eased, underpinning the Federal Reserve’s plan for being patient on raising interest rates.
Spot gold as much as +0.3% to $1,305.83/oz, the highest intraday level since March 1, and was at $1,304.89 at 7:20am in London; +0.6% on Tuesday. Bloomberg Dollar Spot Index +0.1%, after -0.7% in previous 3 sessions.
Investors are also weighing the latest developments on Brexit. On Wednesday, lawmakers will decide whether to tear the country out of the European Union with no agreement in place in 16 days’ time, or give themselves the chance to delay Brexit in the hope of securing better terms.
Source : Bloomberg