Bullion prices ended higher at Comex on Tuesday, 12 March 2019. Gold prices gained Tuesday, recouping most of the previous session's losses, with the dollar weakening in the wake of monthly U.S. inflation data, as investors watched the outcome of a vote by U.K. lawmakers on Prime Minister Theresa May's Brexit plan, which came after the finish for bullion.
Gold for April delivery rose $7, or 0.5%, to settle at $1,298.10 an ounce on Tuesday after losing 0.6% on Monday. In electronic trading after the settlement, gold futures touched highs above $1,302, edging slightly higher after the Brexit vote.
May silver ended 13.9 cents, or 0.9%, higher at $15.413 an ounce.
Late Tuesday, Prime Minister May lost the vote on her revised Brexit deal, as expected, by a margin of 149 votes, despite securing last-minute concessions from the European Union over the Brexit divorce deal on Monday.
The British pound saw volatile trade throughout the session, while the ICE U.S. Dollar Index, a measure of the U.S. currency against six major rivals, was down 0.3%. Both currencies saw muted reaction, with traders having mostly priced in the outcome.
The dollar fell more steeply shortly after data revealed that the U.S. consumer-price index climbed 0.2% in February, matching market expectations, while the cost of living over the past year slowed again to 1.5% from 1.6%. A core reading of inflation, stripping out volatile food and energy prices, edged 0.1% higher, representing the smallest rise since August. The yearly increase in the so-called core rate also slowed a tick to 2.1%. Gold tends to be viewed as a hedge against inflation, with readings of muted inflation providing little ammunition for gold bugs.