Gold Dips On Day, But Up On Week Ahead of Brexit Vote

Saturday, 19 October 2019 03:40 WIB



Gold posted a weekly gain but safe-haven investors and those traditionally long the yellow metal largely sat out of Friday’s market, letting prices dip, with few leads to chase, ahead of a weekend parliament vote on the U.K. bid to leave the EU.

After early gains in the day on the prospects that Britain’s Brexit hopes and U.S.-China trade deal aspirations will be dashed again, gold dipped in later hours on signs that fewer central banks around the world might ramp up on another round of easing.

U.S. gold futures for December delivery settled down $4.20, or 0.3%, at $1,494.10 per ounce.

Spot gold, which tracks live trades in bullion, was down just 30 cents at $1,491.59 by 3:00 PM ET.

For the week, both futures and bullion posted a slight gain, although they remained just under the key $1,500 bullish line.

Source :


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