BREXIT Creates EU Contagion Risk – Ramifications for Investors, Savers and Companies In Ireland
By: Mark O’Byrne
GoldSeek.com
Friday, 24 June 2016
Note: Our trading desk will be open until 1800 Irish time today and from 0700 Irish time Monday morning (Monday 27th), in order to deal with the increased demand for precious metals.
Gold Note
– There has been record online sales on the GoldCore website for this time of day and the phones are ringing off the hook. We have had more sales than during the Lehman crisis and at the height of the Eurozone debt crisis. It is nearly all buying with a preference for gold over silver. We may have to restrict trading to existing clients if we continue to see this level of demand.
– We are seeing more selling then expected and seeing some clients choosing to take profits after the very sizeable short term capital gains. As a percentage of overall trading though, sellers are vastly outnumbered by buyers.
– Bullion inventories had already been increased to record levels and we are confident that the UK leaving the EU will lead to a sustained increase in coin and bar buying in the coming months.
The Rest…HERE
