Gold prices inch up amid Brexit uncertainty, subdued dollar

Gold prices edged up in early Asian trade on Tuesday after hitting a two-week high in the previous session, amid political uncertainty over Brexit and as the U.S. dollar remained subdued.

Fundamentals

* Spot gold was up 0.1 percent at $1,258.12 an ounce at 0057 GMT. The metal touched its highest since June 26 at $1,265.87 on Monday.

* U.S. gold futures for August delivery were 0.1-percent lower at $1,258.70 an ounce.

* The dollar index, which measures the greenback against a basket of six major currencies, was steady at 94.028. It fell to its lowest since mid-June in the previous session.

* Prime Minister Theresa May's foreign minister and Brexit negotiator quit on Monday in protest at her plans to keep close trade ties with the European Union after Britain leaves the bloc, stirring rebellion in her party's ranks.

* Britain's ramshackle exit from the EU could damage economic growth in the euro zone, European Central Bank policymaker Ewald Nowotny said.

* Germany and China signed a raft of commercial accords worth some 20 billion euros ($23.5 billion) on Monday, with their leaders reiterating commitments to a multilateral global trade order despite a looming trade war with the United States.

* Speculators raised their net long position in COMEX gold contracts in the week to July 3, U.S. Commodity Futures Trading Commission data showed on Monday.

* Holdings of SPDR Gold Trust , the world's largest gold-backed exchange-traded fund fell 0.18 percent to 800.77 tonnes on Monday.

* Canadian miner Barrick Gold Corp and China's Shandong Gold on Monday said they would deepen cooperation beyond their Argentinian joint venture, potentially working together on acquisitions.

Today Commodity MCX Live Price