October 21, 2019 / 1:18 AM / 23 days ago

PRECIOUS-Gold holds steady above $1,490 on Brexit uncertainties

Oct 21 (Reuters) - Gold prices held ground above $1,490 an ounce in early Asian trade on Monday as uncertainties swirled over Brexit delay, though a firmer dollar weighed on the safe-haven metal.

FUNDAMENTALS

* Spot gold edged 0.1% higher to $1,490.60 an ounce by 0047 GMT. U.S. gold futures were little changed at $1,494.20.

* Palladium was up 0.2% at $1,757.10 an ounce, after gaining about 3.3% in the previous week. The autocatalyst metal hit a record high of $1,783.21 on Thursday.

* British Lawmakers on Saturday voted to withhold a decision on Prime Minister Boris Johnson’s deal, a move that forced him to seek from the EU a third postponement of Britain’s departure from the bloc.

* The EU will play for time rather than rush to decide on Johnson’s reluctant request to delay Brexit again, diplomats with the bloc said after a 15-minute meeting on Sunday.

* The British government has insisted Brexit will take place on Oct. 31, but uncertainty over the request for a delay and the Parliament’s response has kept markets on the edge.

* A firm dollar against a basket of major currencies limited gold’s gains.

* The long-standing Sino-U.S. trade war has taken a toll on economies around the world with Japan’s exports down for a 10th straight month, and South Korean exports plunging 19.5% over the first 20 days of October.

* Investors now await a U.S. Federal Reserve meeting at the end of the month that could offer further signs of monetary easing.

* At least 15 gold miners were killed on Saturday when a dam collapsed, flooding an artisanal mining encampment in a remote part of Siberia, officials said.

* The world’s second-biggest gold producer Barrick Gold said it had reached a deal to settle a long-running tax dispute between Tanzania and mining group Acacia.

DATA/EVENTS (GMT) 0600 Germany Producer Prices MM, YY Sept (Reporting by Karthika Suresh Namboothiri in Bengaluru; Editing by Subhranshu Sahu)

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