Gold News & Info

Source: Bill Musgrave, American Gold Exchange

Austin— Gold slipped 0.2% to close above $1,292 as receding Brexit fears stoked demand for riskier assets and reduced demand for safe havens.

Polls indicate rising British support for remaining within the European Union, with 45% in favor of staying and 42% preferring to exit. Last Thursday, before the killing of MP Jo Cox by a pro-Brexit partisan caused the campaigns to be suspended, sentiment appeared to be leaning the other way. The watershed vote is this Thursday.

Equities jumped on the shift, with the Global Dow adding more than 2% and the Dow around half that much, as anxieties about the Brexit's potential to damage global growth began to subside.

The dollar fell back against major rivals, stemming gold's slide. A weaker dollar typically supports commodities denominated in it for international trade by making them less expensive to users of other currencies.

The other precious metals finished higher, with silver picking up 0.5% while platinum and palladium, more directly tied to industry, rose 2.1% and 3.6%, respectively.

At the Comex close: August gold slipped $2.70 to $1,292.10; July silver added by 8 cents to $17.49; July platinum rose $20.60 to $986.70; and September palladium jumped $18.95 to $548.60 an ounce.