Gold recovers ground amid Brexit jitters

Ani Salama FXStreet

Gold has regained ground over the last hours, erasing early losses, as anxiety grows ahead of the UK referendum results.

The yellow metal fell to a fresh 2-week low around $1,257.50 an ounce amid positive sentiment and hopes the UK will vote to Remain in the European Union. However, as hours went by, optimism faded and the metal claim back ground.

At time of writing, XAU/USD was trading at $1,265.70 an ounce, virtually unchanged on the day.

UK referendum first results are expected around 00:00 GMT, but a reasonably clear picture of the should be from around 04:00 GMT on Friday.

Author

Ani Salama

FXStreet

Ani Salama is an Economist specialized in financial markets and statistics analysis. In 2010, she joined FXstreet where she now contributes with the news section.

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