Gold and silver prices skyrocketed on Friday after nearly 53% of Britons voted to Leave the European Union (EU) in Thursday’s historical referendum. Gold spiked as high as $71, while silver rose more than 2% in the
August gold prices rose 0.13%, or $1.71, to $1,321.71 per ounce at 17:00 GMT. With Brexit still pummeling markets worldwide and investors seeking a safe haven, gold prices are closing in on their highest settlement level since July 11, 2014.
September silver prices, meanwhile, have pared some of their gains from last week. Silver declined 0.48%, or $0.09, to $17.70 an ounce.
The precious metals have had a strong first half of 2016.
Global investors are seeking safe haven assets as stock markets are being battered. On top of the
Since the Brexit vote, more than $2 trillion have been wiped off stock markets. With significant losses in US and European equities and diminishing odds of a rate hike this summer, the demand for gold has greatly increased.
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