Gold Prices Rise Amid Brexit Uncertainty

Gold prices rose slightly on Wednesday as investors awaited more clarity on the Brexit and the U.S.-China trade war.

Spot gold edged up 0.35 percent to $1,492.87 per ounce, while U.S. gold futures climbed 0.55 percent to $1,495.85.

Asian stock markets fell today and European stocks are turning in a mixed performance as the political deadlock over Brexit dragged on and tech stocks fell after revenue warnings from Texas Instruments.

A general election could be on the cards after U.K. lawmakers supported the prime minister’s deal to withdraw the U.K. from the EU, but then rejected a limited time frame for reviewing the legislation related to Brexit.

Prime Minister Boris Johnson has vowed to push for an election if EU leaders sanction a Brexit extension of up to three months.

U.S.-based Texas Instruments gave a weaker-than-expected forecast for the current quarter after reporting disappointing September-quarter results, saying customers are getting wary of ongoing trade uncertainties with China.

Investors await further developments in U.S.-Chinese trade negotiations after U.S. President Donald Trump said earlier this week that talks between Washington and Beijing are going very well.

China’s Vice Foreign Minister Le Yucheng said on Tuesday that China and the United States had achieved some progress in their trade talks and that there is no disagreement that cannot be resolved as long as both sides respect each other.

The material has been provided by InstaForex Company –