Higher Gold Prices After BREXIT

Gold prices on news of a BREXIT.

Gold is up 24.46% on the year, seriously outpacing equities in 2016.

Higher gold prices after BREXIT, Stocks vs. Gold

What’s happening in the precious metal markets after Britain’s decision to move away from the E.U. To start, there is a lot of fear in the market. As sovereigns show their propensity to find safe harbor in gold and treasuries, you can be sure that silver and platinum will likely follow suit. Higher Gold prices after BREXIT is happening with gold trading higher at $1,322.10, up $4.00, for a net change of 0.30% per ounce on the day, Silver is also trading lower at $17.75, that is slightly lower on the day at -$0.06/-0.34% per ounce, Platinum is trading lower today at $978.90, -8.10/-0.83% per ounce, and Palladium trading slightly higher a $559.10, +$6.30/+1.13% per ounce.
Spot Prices Price Change(T-1)
📈 Gold $1,322.10 $4.00/0.30%
📉 Silver $17.75 -$0.06/0.34%
📉 Platinum $978.90 -$8.10/0.83%
📈 Palladium $559.10 $6.30/1.13%
Now let us take a look at the *Year-to-date (YTD) returns: Gold is higher by up $259.85 per ounce on the year that is 24.46% return in 2016. Silver prices have also made serious gains, up $3.93, or 28.44%, not too shabby.

*Keep in mind that these prices are based on the closing prices from December 31st, 2015.

Why higher gold prices after BREXIT?

The short answer is based on safety. The BREXIT has identified a crevice in the confidence. As the world prepares to adjust to these newly defined sentiment of independence, we can be sure more nations will likely question their place in global “trade deals” through-out the E.U. and the world.

Thank you everyone, Mia.

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