‘Safe Haven’: Brexit Vote Sparks Gold Fever in Global Markets

Saturday, June 25, 2016
By Paul Martin


The Brexit vote has caught global investors by surprise. As a result the yellow metal skyrocketed on Friday following the victory of the “Leave” camp in the UK, prompting experts to dub it “sound money.”

Gold has soared 25 percent year to date following the UK’s stunning “Brexit” vote Friday: the precious metal is regarded as safe haven by flabbergasted investors.

“The sharp move in gold marked a reversal in expectations for the UK referendum outcome, after traders spent the past week betting Britain would stay in the EU. Friday’s gains ended a five-day losing streak and caught many traders and investors off-guard,” Stephanie Yang of the Wall Street Journal reports.

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