Gold futures prices slipped from two-week highs on Thursday, as the psychologically important $1,300 line remained elusive for another session. Moderate stock strength kept the precious metal in check, although a weaker dollar propped up gold.
Gold settled Wednesday at its highest in nearly two weeks, at $1,293.80, on the back of political turmoil in the U.K. and U.S.
Early Thursday, gold for February delivery was off 10 cents, or less than 0.1%, at $1,293.70 an ounce, while March silver fell 5 cents, or 0.3%, to $15.59 an ounce.
Political uncertainty underpins the haven metal. Investors were increasingly worried that a U.S. partial government shutdown entering its 27th day would deliver a more lasting impact to economic growth in the first quarter. Financial markets also awaited next steps for Britain after Theresa May’s government narrowly survived a no-confidence vote Wednesday as she attempts to forge a path forward for the U.K. exit from the European Union.