Bengaluru — Gold scaled a near two-week peak on Wednesday, after reclaiming the key $1,300 level in the previous session, as investors opted for the safe-haven metal after British MPs rejected an amended exit deal, while a weaker dollar lent further support. Spot gold was up 0.3% at $1,305.21/oz, as of 3.29am GMT, after touching its highest since March 1 at $1,305.69 earlier in the session. US gold futures rose 0.5% to $1,305/oz. The British parliament on Tuesday rejected Prime Minister Theresa May’s deal to quit the EU for a second time, deepening the country’s political crisis days before the planned departure date on March 29. “The ongoing Brexit [uncertainty] has diminished risk appetite as investors are increasingly unnerved on the potential of a ‘hard Brexit’ deal,” said Benjamin Lu, analyst with Singapore-based Phillip Futures. Asian share markets were mostly in the red on Wednesday as a risk-off mood gripped investors, while a frazzled pound awaited its fate ahead of yet ano...
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