Gold rises in support of the rejection of the agreement, "Breakst"

Gold rises in support of the rejection of the agreement, "Breakst"

Gold rises in support of the rejection of the agreement, "Breakst"

Gold rose on Wednesday, bolstered by the uncertainty surrounding Britain's exit from 
the European Union after lawmakers rejected British Prime Minister Teresa Mae's 
secession from the bloc, while calls for a halt to US interest rates rose.

By 0610 GMT, spot gold was up 0.3 percent at $ 1292.61 an ounce.

Gold futures in US futures rose 0.3 percent to $ 1292.40 an ounce.

The increasing opportunities for Britain to leave the EU without an agreement strengthen 
the attractiveness of the yellow metal as a safe haven, even as US equity markets have 
rallied in recent weeks, said Benjamin Lo, an analyst at Philip Futures.

British lawmakers voted to reject the Teresa Mai agreement by a wide margin, sparking 
the political turmoil that could lead to the country's exit from the EU without 
agreement or even a break-out.


A number of policymakers at the Federal Reserve said on Tuesday that the bank should 
stop raising interest rates until it becomes clear how much the US economy is affected 
by major risks such as slower growth in China and less severe risks such as 
the budget crisis in Washington.

Among other precious metals, palladium rose by 0.5 percent to $ 1,324 an ounce. 
The metal hit a record high of $ 1342.43 last week.

Platinum rose 0.3 percent to $ 795.50 an ounce, while silver settled at $ 15.57 an ounce.