Brexit Alarms Propel Gold Investors to Near Record Rally Wagers
- Concerns over Brexit vote send prices higher for three weeks
- ‘There’s still a lot of fear out there,’ investor says
Gold Prices Are Still Solid
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The turbulence sweeping global markets has reignited investors’ passion for gold.
Global central bankers have sounded the alarm that a British exit from the European Union could be disruptive to the global economy. Anxiety about the June 23 vote contributed to more than $1 trillion of value being wiped from global equities last week as bullion futures reached the highest in almost two years. Hedge funds are holding the second-biggest bet ever that the metal will rally further, falling just short of a record reached in 2011.