29.06.2016 - ‘Going long on fear’: Analysts hike gold price forecasts after Brexit
Gold prices ran up after Britain’s decision to quit the European Union, climbing sharply last Friday and yesterday as the referendum results rippled through global markets, pummelling stocks and some currencies. Gold has pulled back from its Friday high, and dipped about 1 per cent amid today’s stock market rally. “We are revising our gold price assumptions as we believe that the fundamental macro backdrop for gold prices provides significant runway for gold price appreciation from current levels despite an appreciation of 25 per cent [year to date],” Clarus Securities said this week...............................................Full Article: Source
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