Gold for February delivery GCG9, -0.22% was $4.70, or 0.4%, lower at $1,241.90 an ounce, following its highest finish for the contract since July 25, FactSet data show. March silver SIH9, -0.34% traded 8 cents, or 0.6%, lower at $14.56 an ounce, after that metal ended 1% higher on Tuesday.
“Traders are watching two important events in the coming days,” the ongoing developments on Brexit and how this factor can trigger a bigger move in the market and Friday’s U.S. nonfarm payroll data, said Naeem Aslam, chief market analyst at ThinkMarkets UK.
“If the Brexit vote is not approved, this will be a risk-off event for the market and we could see the price of gold moving higher,” he said. “Similarly, a soft U.S. NFP reading will only add fuel for this rally.”/marketwatch.com