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Gold Steady as Investors Await Brexit Clarity, Fed Meeting


Thursday, 24 October 2019 08:52 WIB

GOLDEMAS


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Gold held ground above $1,490 per ounce on Thursday as investors awaited clarity on Brexit after the European Union delayed a decision on granting an extension to Britain, and the U.S. central bank policy meeting for clues on the interest rate trajectory.

Spot gold was unchanged at $1,491.83 per ounce as of 01:29 GMT. U.S. gold futures was flat at $1,494.60 per ounce.

EU member states on Wednesday delayed a decision on whether to grant Britain a three-month Brexit extension, while Prime Minister Boris Johnson said if the deadline is deferred to the end of January he would call an election by Christmas.

Meanwhile, Federal fund futures imply that traders see a 91.4% chance for a 25 basis point rate cut by the U.S. central bank in its month-end monetary policy meeting.

Source : Reuters


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