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Oct 23 (Reuters) - Gold prices were steady on Wednesday, as
investors waited for clarity on Brexit confusion after UK
lawmakers voted for Prime Minister Boris Johnson's divorce plan
but opposed his tight timetable to complete the legislative
process in three days.
FUNDAMENTALS
* Spot gold XAU= was unchanged at $1,488.50 per ounce, as
of 0125 GMT. U.S. gold futures GCv1 rose 0.3% to $1,491.30 per
ounce.
* EU leaders should delay Brexit after Prime Minister Boris
Johnson paused legislation on his deal following a parliamentary
defeat, EU Council President Donald Tusk said on Tuesday, as
Britain spins towards a possible election to break the impasse.
* Asian shares and U.S. stock futures took a hit after
British lawmakers rejected the government's proposed timetable
for passing legislation to ratify its deal to exit the European
Union. MKTS/GLOB
* Meanwhile, Federal fund futures imply that traders see a
91.4% chance for a 25 basis point rate cut by the U.S. central
bank in its month-end monetary policy meeting. FEDWATCH
* On the trade war front, China and the United States have
achieved some progress in their trade talks, Vice Foreign
Minister Le Yucheng said on Tuesday, adding that as long as both
sides respected each other, no problem could not be resolved.
* White House economic adviser Larry Kudlow on Monday
expressed optimism about ongoing U.S.-China trade talks, and
said that tariffs scheduled for December could be withdrawn if
negotiations continue to go well. * The two major economies have imposed a series of
tit-for-tat tariffs over the past 15 months that have hit
financial markets and stirred up global recessionary fears.
* The non-yielding bullion is often seen as a safer
investment during times of political and financial uncertainty.
* SPDR Gold Trust GLD , the world's largest gold-backed
exchange-traded fund, said its holdings fell 0.54% to 919.66
tonnes on Tuesday from 924.64 tonnes on Monday.
DATA/EVENTS (GMT)
0645 France Business Climate Mfg Oct
1400 EU Consumer Confid. Flash Oct