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Wednesday 23 October 2019
MTECHTIPS;-Gold bides time as traders await clarity on Brexit
MTECHTIPS;-
Gold bides time as traders await clarity on Brexit
MTECHTIPS-Gold prices were steady on Wednesday, as investors waited for clarity on Brexit confusion after UK lawmakers voted for Prime Minister Boris Johnson's divorce plan but opposed his tight timetable to complete the legislative process in three days. Spot gold was unchanged at $1,488.50 per ounce, as of 0125 GMT. US gold futures rose 0.3 percent to $1,491.30 per ounce. EU leaders should delay Brexit after Prime Minister Boris Johnson paused legislation on his deal following a parliamentary defeat, EU Council President Donald Tusk said on Tuesday, as Britain spins towards a possible election to break the impasse. Asian shares and US stock futures took a hit after British lawmakers rejected the government's proposed timetable for passing legislation to ratify its deal to exit the European Union. Meanwhile, Federal fund futures imply that traders see a 91.4 percent chance for a 25 basis point rate cut by the US central bank in its month-end monetary policy meeting. On the trade war front, China and the United States have achieved some
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