Gold Retreats, Copper Climbs as Post-Brexit Markets Stabilize
- Equities, pound gain on speculation of more policy action
- Copper futures touch the highest in seven weeks in New York
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Gold fell back and copper soared as global markets stabilized on speculation that policy makers will do more to curb the post-Brexit fallout.
Bullion fell after its biggest two-day surge in seven years as European and U.S. equities and the pound climbed for the first time since the U.K. voted to leave the European Union. Concern that an exit will disrupt the global economic recovery had caused market turmoil and boosted gold by 5.4 percent in just two days as investors sought a haven.