Gold holds near two-week low as Brexit odds ease before vote

Gold today traded near a two-week low as speculation that the UK will vote to stay in the European Union curbed demand for a haven. Gold lost 0.3 per cent to USD 1,264.48 an ounce. Prices earlier touched the lowest since June 9 and a third day of declines would be the longest run since May. Silver also fell 0.2 per cent to USD 17.24 an ounce.

Bookmakers odds indicate there’s only about a one-in-four chance that Britons will choose to leave the EU in Thursday’s referendum, even though opinion polls suggest the vote is too close to call.

Investors have become more optimistic in the past few days as the odds of an exit declined after the murder of a UK lawmaker who favoured staying in the EU.