Gold futures prices fell on Wednesday morning, retreating from a one-month high as investors prepared for UK exit from the European Union, which the UK government will launch later in the day.
Gold for April delivery on the Comex Exchange dipped $2.65, or 0.23%, to $1,252.75 a troy ounce.
Gold prices fell to as low as $ 1.246.50, as US home sales data stronger than expected supported a stronger US economy, pushing the dollar higher.
The National Association of Realtors said Pending Home Sales rose 5.5% last month, much higher than economists’ forecast of a 2.4% increase.
British Prime Minister Theresa Mae launched article 50 on Wednesday, the legal process that will leave Britain and the European Union. Article 50 gives the country two years Exiting to negotiate a deal out, and once it is run, it can not be stopped only with the consent unanimously by all Member States.
Meanwhile, investors looked into comments from Federal Reserve officials, as Federal Reserve Board member Charles Evans said on Wednesday, and he was confident that the two overall increase in the 2017 rate appeared to be “very safe.”
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