Theresa May to Resign as Prime Minister
Gold Silver Reports (GSR) – Theresa May has said she will quit as Conservative leader on 7 June, paving the way for a contest to decide a new prime minister.
UK
Brexit: UK Cabinet Office Minister Lidington says this evening PM has secured legally binding changes that strengthen and improve withdraw agreement
David Lidington: Brexit negotiations are continuing. Parliament will vote on improved deal tomorrow. – BBG
Brexit vote: EU President Says UK Remaining is only option ‘if a Deal is Impossible, and No one wants No Deal’
The president of the European Council has dared British politicians to back remaining in the EU after Theresa May’s Brexit deal was voted down by the House of Commons by a historic margin of failure.
Gold Worth $37 Billion Traded in London Each Day, New Data Shows
Gold Silver Reports (GSR) – London is a global gold trading hub but most transactions are made in over-the-counter trades between banks, brokers and dealers who have been reluctant to reveal their activity.
Euro Slides After Italian Lawmaker Talks Up National Currency – Neal Bhai Reports
The euro fell to a six-week low on Tuesday after a senior lawmaker in one of Italy’s ruling parties said most of the country’s problems would be resolved if it readopted a national currency, triggering a broad market sell-off.
Gold Prices Inch Up as Investors look for Bargains – Gold Silver Reports
US gold futures were up 0.1 per cent at $1,200.40 an ounce.
Gold Fundamentals Reports
Spot gold had risen 0.2 per cent to $1,196.21 as of 0057 GMT. On Wednesday, the metal touched its lowest since September 11 at $1,190.93 an ounce.
Trader Guilty of UK’s Biggest Fraud Detained Prior to Deportation
Gold Silver Reports (GSR) — Kweku Adoboli, the former trader who was found guilty of causing a $2.3bn (£1.8bn) financial loss, has been detained by the Home Office as preparations for his deportation to Ghana begin.
Adoboli, 38, was jailed in 2012 for the fraud, which was the biggest in UK history. He was freed after serving half of his seven-year sentence.