Gold hovers near 2-year highs

The yellow metal was propelled to fresh 2-year highs on Wednesday as investors’ appeal for safe havens increased amid lingering political and economic uncertainty in the aftermath of the Brexit vote.

Gold broke above previous 2016 high of $1,358.40 an ounce and reached its highest level since March 2014 at $1,375.10 an ounce during the New York session. It was last trading around $1,365 an ounce, up 0.74% on the day.

The metal has been steadily inching higher over the last days favored by the risk-off environment and prospects major central banks -  BoE, BoJ - might provide further monetary stimulus over the upcoming months, while the Fed could delay next rate hike on the back of UK referendum.

Later on the day, FOMC minutes will be released, although they could shed little light on Fed’s path as the meeting took place before the UK vote. On Friday, US nonfarm payrolls will be also closely watched to see if the US employment sector is indeed losing momentum after June’s disappointing reading (+38K vs 164K expected).