Gold Regains Ground on Brexit Jitters

Gold held steady on Wednesday after dropping nearly 1% in the last session, as European stocks slipped on uncertainties surrounding Britain’s departure from the European Union, while palladium hit a new high on tight supplies.

Spot gold was up 0.1% at $1,482.84 per ounce. U.S. gold futures were up 0.2% at $1,486.20.

“The euro is firmer against the U.S. dollar, stock markets came back a little bit too, which seems related to the Brexit talks after the euphoria yesterday, but there still are some risks in these talks,” said Quantitative Commodity Research analyst Peter Fertig.