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Gold Prices Up as Brexit Uncertainties Attract Safe-Haven Bids
Parliament rejected May’s withdrawal deal for the second time on Tuesday, raising concerns of a “hard-Brexit” scenario before the planned departure date on March 29.
May would hold a vote on Wednesday on whether to leave the European Union without a deal and, if lawmakers reject that, they will then vote on whether to seek a limited extension to Article 50, the provision of the EU treaty under which the U.K. is withdrawing from the bloc.
Asian stocks were mostly in the red on Wednesday as a risk-off mood gripped investors, but the uncertainty spurred demand for the safe-haven gold.