Investing.com - Gold prices were unchanged on Thursday in Asia as markets await the U.S. Federal Reserve meeting next week and more news on Brexit.
U.S. Gold Futures for December delivery was unchanged at $1,495.65 per ounce by 1:05 AM ET (05:05 GMT).
Bullion is up around 16% on the year, although it has come off from its six-year highs of above $1,550 in September.
The safe-haven metal was supported this week by uncertainties over Brexit as U.K. Prime Minister Boris Johnson’s divorce plan from the EU remained in limbo.
On Tuesday, parliament opposed British Prime Minister Boris Johnson's three day timetable for passing Brexit legislation. The stage now looks set to push for a general election before Christmas to break the impasse.
It is up to the EU to decide whether to extend Britain's Oct. 31 deadline for its departure. Citing one unnamed EU official, the CNBC reported that EU leaders could decide on the delay as early as Thursday.
The gains however were limited as the market continued to price in a relatively prompt and smooth departure.
Investors also await the U.S. Federal Reserve’s meeting on Oct. 29 and 30, at which it is expected to cut its benchmark interest rate for a third consecutive time this year.
According to Investing.com’s Fed Rate Monitor Tool, investors see a 94.1% chance of the Fed cutting rates for the third time this year next week.