Gold recovers ground amid Brexit jitters

Gold has regained ground over the last hours, erasing early losses, as anxiety grows ahead of the UK referendum results.

The yellow metal fell to a fresh 2-week low around $1,257.50 an ounce amid positive sentiment and hopes the UK will vote to Remain in the European Union. However, as hours went by, optimism faded and the metal claim back ground.

At time of writing, XAU/USD was trading at $1,265.70 an ounce, virtually unchanged on the day.

UK referendum first results are expected around 00:00 GMT, but a reasonably clear picture of the should be from around 04:00 GMT on Friday.