Gold Prices Re-approaches 2-year Highs Investors Seek Safe-Haven After Brexit Shocks

Gold Prices Re-approaches 2-year Highs Investors Seek Safe-Haven After Brexit Shocks

Prices of gold increased by more than 1 percent on Monday, again close to two-year peaks hit on Friday after a shock the United Kingdom vote to leave the European Union pushed investors to the safe haven asset.

U.S. gold for August delivery were up 0.5% at $1,329.0 an ounce, prices on Friday, up 4.39% after hitting peaks of $1,358.20. It was gold’s largest one day gain since September 2013 and the highest close since August 2014.

Spot gold had risen 1.30 percent to $1,332.55 an ounce, after touching a high of $1,335.30 earlier in the day.

The United Kingdom has voted almost 52% to 48% on Thursday to break the largest trading bloc in the world, which caused historic declines in stocks and currencies and investors to send them to seek safety in debt yen, gold and low-risk government.

Bullion is up 25% in the year to date, driven by concerns on overall growth and the adoption of negative real interest rates by central banks.

The verdict of the referendum probably means ambitions of the US Federal Reserve for two rate hikes this year have been put on hold.

Continuing its winning run, gold prices rose by another Rs 232 to Rs 31,922 per 10 gram in futures trade on Monday at the Multi Commodity Exchange for delivery in far-month October amid a firming trend overseas where gold surged for a second day as shock waves.

For Commodity Market Tips, MCX Live Tips, Gold-Silver Prices and trading market latest news & updates  with 100McxTips, follow us on Twitter @100mcxtips and Like on Facebook.  And to contact the reporter on this story email at or Call: +91-761-4012307

Commodity Tips Provider


MCX Commodity Tips is an experienced Commodity Research Advisory to predict investors buying and trading trends at various market environments. For free trial advisory on commodity Gold, Silver, Crude, Copper and all Indian Commodities kindly visit us and submit an query form at commodity free trial tips here.

Posted in Commodity, MCX, Stocks Market

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Free Crude Oil Tips
Free Trial Crude Trading Tips
Contact & Visit Info
M-Sat : 10am - 7pm

Error: Twitter did not respond. Please wait a few minutes and refresh this page.

NG Trading Tips
Free Trial Commodity Tips
Disclaimer: 100McxTIps would like to remind you that the data contained in this website is not necessarily real-time nor accurate. Bulloin Futures prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore 100McxTips doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .
%d bloggers like this: