Gold Prices Edge Down as U.S. Dollar Gains on Uncertainties Around Macro Backdrop(REALCOMMODITY.COM: 8077694749, 9720148005)

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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.

Various media suggested that May is expected to bring a third vote to Parliament in the coming days, even after she openly admitted she lacks support for putting her Brexit deal to such vote.

The U.K. has until April 12 to reach a consensus on Brexit, which would need to be ratified by the EU. Without a deal, the U.K. could request a prolonged extension or leave without a deal.

Traders are also paying close attention to further news on the Sino-U.S. trade front, as officials gather in Beijing this week for a new round of trade talks.

In other news, the U.S. yield curve inversion received some residual focus, although it had little impact on gold prices today.

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