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Gold Declines a Second Day, Copper Rises as Brexit Fears Ease

  • Copper, miners rally on higher investor appetite for risk
  • Hedge funds’ net-long positions in gold futures near record
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Gold Prices Are Still Solid

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Gold fell for a second session as polls showing British voters tilting toward remaining in the European Union reduced investor demand for a haven. Copper and other industrial metals advanced.

Bullion rallied to the highest in almost two years last week as global central bankers sounded the alarm that a British exit from the European Union could be disruptive to the global economy. Federal Reserve Chair Janet Yellen said concern over a so-called Brexit played a part in policy makers’ decision to hold off from raising rates last week. A turn in voter sentiment in the latest poll eased market concerns.