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Gold firm ahead of Brexit vote but risk mood caps gains

Published : Wednesday, 23 October, 2019 at 12:00 AM  Count : 109

Oct 22: Gold edged higher on Tuesday ahead of a crucial vote by British lawmakers on the Brexit withdrawal agreement, but buoyant Asian shares on progress in US-China trade talks limited gains.
Spot gold inched 0.2per cent higher to $1,487.20 per ounce as of 0758 GMT. US gold futures also gained 0.2per cent to $1,490.30.
In the latest on the Brexit proceedings, British Prime Minister Boris Johnson's parliamentary battle starts again, when lawmakers will debate and vote on the Withdrawal Agreement Bill, the detailed legislation that puts his exit deal into British domestic law.
Markets gained overnight on Wall Street with the benchmark S&P 500 stock index rising to within striking distance of a record high on reports of progress in US-China trade talks. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.4per cent on Tuesday.
China and the United States have achieved some progress in their trade talks, Chinese Vice Foreign Minister Le Yucheng said on Tuesday, adding that as long as both sides respected each other, no problem could not be resolved.

Le's comments came a day after US President Donald Trump spoke of optimism about a deal, while White House adviser Larry Kudlow said tariffs on Chinese goods scheduled for December could be withdrawn if talks go well.    -Reuters

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