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Gold Prices Edge Down as U.S. Dollar Gains on Uncertainties Around Macro Backdrop

Gold prices edged down on Thursday in Asia as the U.S. dollar gained on uncertainties around Brexit and Sino-U.S. trade talks.

Gold Futures traded on the Comex division of the New York Mercantile Exchange were down 0.1% to $1,316.25 per ounce by 1:04 AM ET (05:04 GMT).

The U.S. Dollar Index Futures traded higher today and is near a two-week peak, making the dollar-denominated gold more expensive for holders of other currencies.

Uncertainties on Brexit were cited as supporting the dollar. On Wednesday, U.K. Prime Minister Theresa May said she would step down if Parliament supports her twice-rejected withdrawal deal.

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