On MCX, gold futures prices increased 0.42% to ₹38,040 per 10 gram, while, Silver rose 0.46% to ₹45,382 per kg.
Banners, Union and EU flags are displayed outside the Houses of Parliament in London on October 22, 2019, as MPs debate the second reading of the Government's European Union (Withdrawal Agreement) Bill. - British Prime Minister Boris Johnson faces two crucial Brexit votes Tuesday that could decide if he still has a reasonable shot at securing his EU divorce by next week's deadline. The UK is entering a cliffhanger finale to a drama that has divided families and embittered politics ever since voters backed a split from Britain's 27 EU allies and trading partners in 2016. (Photo by Tolga Akmen / AFP)
After dropping for three days in a row, gold prices in India rebounded on Wednesday as the markets digested the Brexit news.
On MCX, gold futures prices increased 0.42% to ₹38,040 per 10 gram, while, Silver rose 0.46% to ₹45,382 per kg. In global markets, gold prices remained at 0.1% at $1,489.07 per ounce. Whereas, Silver plunged 0.2% at $17.49 an ounce.
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After Tuesday’s parliamentary defeat, in which 322 to 308 lawmakers voted against Prime Minister Boris Johnson’s deal to depart from the EU, another Brexit delay is expected. Experts are optimistic that the worst scenario, i.e. the UK leaving the bloc without a deal, may be avoided.
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On the other hand, Chinese Vice Foreign Minister Le Yucheng said trade talks between Washington D.C. and Beijing have made some progress, adding that as long as both sides respect each other, all issues were resolvable.
Internationally, gold prices rose to $1,475-$1,500.
This year, Gold prices witnessed a surge of 20%. But it was corrected after nearly ₹2,000 per 10 gram dropped from highs of ₹40,000 hit last month.
(With input from agencies)
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