Commodity Sentiment is improving in the gold market as global equity turmoil and geopolitical tension in the Middle East fuel haven demand. About 69 percent of traders and analysts were bullish on the metal, the most since April.
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Prime Minister Theresa May said Britain and the European Union were nearing a divorce deal but called on the bloc to show “goodwill and determination” to avoid a disorderly Brexit and secure a close future partnership. Holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.04 percent to 742.23 tonnes on Tuesday.