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Gold Prices Edges Up; U.K. Lawmakers Vote to Postpone Brexit Date

Prices of the safe-haven gold prices edged up on Friday in Asia even after tensions and uncertainty over Brexit seemed to have eased.

On Thursday, British lawmakers voted to seek a delay to the country’s exit from the European Union.

The news came after British Prime Minister Theresa May’s Brexit deal suffered a second defeat in the parliament earlier this week. A day later, U.K. lawmakers rejected leaving the European Union without a deal.

Global equities traded mostly higher following the latest news. Gold prices, which in general move in opposite direction as the stocks due to their safe-haven nature, dropped below the key $1,300 level overnight but managed to claw back some of the losses today.

Gold Futures for April delivery were up 0.3%, at $1,298.45 per ounce on the Comex division of the New York Mercantile Exchange by 1:30 AM ET (05:30 GMT).

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