Pound falls after PM May Brexit transition comments, large order

LONDON (Reuters) - Sterling turned negative on Monday, with traders pointing to comments from Prime Minister Theresa May that an extension of the Brexit transition period was unlikely as the possible reason, as well as market talk of a large euro purchase.

The pound fell as much as 0.3 percent to hit a day's low versus the dollar of $1.2796. The move came after May said she wanted any post-Brexit transition phase to have ended by the time the country is due to hold a national election in 2022.

Against the euro, the pound also dropped to the day's low of 89.32 pence.

Reporting by Tom Finn; Editing by Tommy Wilkes

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Gold stocks reach new highs on metal price gain

Rise in gold stocks propels TSXV Mining

Market sees gold sector nearing full value overall after target upgrades

Gold stocks gain even as metal pulls back

Gold stocks rocket to new highs, valuations no longer inexpensive