Central Banks In Trouble After Brexit Shocker As Gold May Surge To $1,600
KingWorldNews.com
June 25, 2016
On the heels of an absolutely wild trading week in the aftermath of the Brexit vote, today a legend in the business sent King World News a powerful piece about central banks heading toward trouble as gold may surge to $1,600.
The Brexit Fiasco And Gold’s Massive Surge
By John Ing, Maison Placements
June 25 (King World News) – There will be a new day in the UK, it will be just different. The shock of the Brexit referendum will ease but the effects will be long lasting. In the interim, a new Prime Minister must be appointed to negotiate Article 50 with the European Union. Its six founding members are to meet this weekend with a response.
Markets are down big time on Friday and no doubt will be ugly. To be sure, there will be terrific buying opportunities. But Friday, gold is up to a two year high in a knee-jerk reaction and will find some resistance at $1,350 per ounce. To be sure there is now solid support at $1,250 per ounce. In GBP (British pounds) terms, gold went up 15 percent overnight. Below is a gold chart from Joe Ismail. Joe is calling for resistance at $1,400 per ounce to test the $1,600 per ounce resistance high.
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