WASHINGTON (dpa-AFX) - Gold prices edged higher on Wednesday as the dollar edged lower on the back of weak U.S. data released overnight and amid signs of progress in Brexit trade talks.
Investors remain optimistic about a U.S. stimulus package despite President Donald Trump threatening a veto unless Congress makes major changes to the omnibus spending package and Covid-19 relief bill.
'Congress did its job this week and I can and I must ask them to do it again next year,' President-elect Joe Biden reportedly said in a year-end news conference.
Spot gold rose half a percent to $1,868.79 per ounce, while U.S. gold futures were up 0.1 percent at $1,872.40.
The National Association of Realtors released a report overnight showing existing home sales in the United States pulled back in the month of November.
The Conference Board released another report showing consumer confidence in the U.S. has unexpectedly decreased in the month of December.
Worries are mounting that a new strain of fast-spreading coronavirus discovered in Britain could derail the global economic recovery.
Political editor Robert Peston said a trade deal between the United Kingdom and the European Union is possible on Wednesday after progress in talks on fishing rights.
The EU is making a 'final push' to strike a trade deal with Britain, EU chief negotiator Michel Barnier said on Tuesday before meeting EU ambassadors in Brussels.
I'm still reasonably optimistic but there's no news to report to you this morning,' British Housing Secretary Robert Jenrick told Sky News as the outstanding issues on fisheries prove 'very difficult' to overcome.
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