Brexit. It’s only the most talked about, and for a lot of people, life-altering event of the year. Many people have been wondering what this will mean for trade and businesses across the country that rely on the UK. One of the most important issues is the price of gold.
After the UK said “see you later” to the EU the Bullion surged 4.8%, making it the biggest one-day gain since January 2009. Goldman Sachs has also raised its gold price future predictions based on Brexit.
The good news is that the surge of gold will help steady some investors who’s stocks tanked as a result of the UK and EU separation. Bullion dealers that offer gold coins and bars to retail investors are also in luck because the rise in price of gold caused online sales stock to drain, forcing them to call in their emergency reserve in Germany. Analysts also predict that it won’t be long before prices of gold top $1,500 or even $1,900 an ounce.
“The market’s fearful reaction has made Brexit the most stressful event investors have seen since the Lehman Brothers bankruptcy in September 2008,” said David Beahm, chief executive of Blanchard and Co.