Investing.com - Gold futures were under pressure in North American trade on Thursday, falling to a new two-week low as investors bet the U.K. will vote to remain in the European Union in the closely watched Brexit referendum.
The vote on a potential Brexit was set to take place between 6:00GMT, or 7:00AM London time, and 21:00GMT, or 10:00PM in London, with results expected early Friday morning.
Recent polls indicated that the remain campaign was in the lead, spurring "risk-on" sentiment across the globe and dampening demand for safe-haven assets.
Gold for August delivery on the Comex division of the New York Mercantile Exchange fell to an intraday low of $1,259.90 a troy ounce, the weakest since June 9. It last stood at $1,261.50 by 12:37GMT, or 8:37AM ET, down $8.00, or 0.63%.
A day earlier, gold shed $2.50, or 0.2%, on growing expectations that Britain would vote to remain in the European Union.
Gold soared to $1,318.90 late last week, the most since August 2014, as worries about a potential exit by the U.K. from the European Union left investors scrambling for safe haven assets.
Elsewhere on the Comex, silver futures for July delivery inched up 0.8 cents, or 0.05%, to trade at $17.32 a troy ounce during morning hours in New York, while copper futures jumped 1.9 cents, or 0.91%, to $2.155 a pound.