Economic news

Gold prices jump in view of geopolitical uncertainty

The possibility of Britain to exit the European Union without an agreement helps gold on Thursday to grow further. On the eve of the British Parliament voted against the option proposed by the Prime Minister Brexit deal.

gold rises 1303Photo: Reuters

The fears associated with the chaotic exit of Britain from the EU before March 29, before the deadline for the official exit from the European trading bloc, contributed to an increase in the appetite for safe-haven assets such as gold.

Gold futures for delivery in April rose by 0.70 percent to $1,307.20 per troy ounce at 15.07 GMT, while May silver futures contracts added 0.34 percent to $15.47 per troy ounce.

British Prime Minister Theresa May suffered a second defeat on Tuesday on her Brexit deal. The British Parliament will vote further for a no-deal Brexit or for its postponing.

Platinum on COMEX added 1.60 percent to $845.2 per troy ounce, aluminum went up by 1.22 percent to $1,900 per ton.


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