| Gold prices likely to move up further in the current calendar year owing to uncertainties in the global markets as U.K. voted to exit from the European Union. Gold prices shot up to its highest level in three years, in the aftermath of the Brexit referendum, on last Friday, as investors rushed to grab safer assets, leaving equities and other risk assets, which were already facing selling pressure.
The prices of gold hit a three-year peak at around $1,355 per ounce on June 23, and hovering between $1310 and 1,320 per ounce in the international market currently. Earlier the highest price recorded was at around $1,900 per ounce in 2012 which moved down to $1,100 per ounce in the subsequent period, mostly attributed to the sluggish purchase by the central banks..............................................Full Article: Source
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