Mubasher: Gold went up at Wednesday’s settlement, backed by the negative developments in respect of Brexit.

Comex February gold increased by $5.4, or 0.4%, to close at $1,293.8 per ounce.

By 07:16 GMT, the USD index (DXY) inched up 0.02% to 95.99.

On Tuesday, the UK parliament rejected a proposed Brexit deal, triggering opposition’s calls for a no-confidence vote Prime Minister Theresa May and casting further uncertainty around the country’s departure from the European Union (EU).

Lawmakers needed to approve the divorce deal which Premier spent years crafting with EU leaders.