BullionStar News
Writers Torgny Persson, Koos Jansen
& Hong Kang See

Gold & Brexit

Saturday the 25th of June 2016
In what was an extraordinary day for global financial markets, and a day which will no doubt become legendary and enter folk memory in the UK and elsewhere, the electorate of the United Kingdom voted 51.9 % to 48.1% to leave the European Union. As the first count results began trickling in during the very early hours of Friday morning London time from northern England constituencies such as Newcastle and Sunderland, the cosy optimism that had prevailed in the Remain camp became increasingly agitated as the voting majority swung to the Leave side and quickly snowballed, in what was a shock to many.

Gold Philharmonics and Silver Philharmonics with Euro notes

The Sterling – Dollar cable rate plummeted, gold took off, especially in GBP, and BBC presenters became increasingly stony-faced and pale looking. By 3:40am UK time, Leave was ahead by 500,000 votes, and just an hour later the major UK networks of first ITV and then the BBC called the election to the Leave camp. Nigel Farage, promoter of the Leave side and leader of the UK Independence Party (UKIP), who had earlier conceded then un-conceded defeat, reappeared to the press and when asked what he would do next announced that he was going for a celebratory drink. As Farage and his boisterous entourage were undoubtedly finding a suitable early hostelry to settle into in Westminster, an ashen-faced British Prime Minister David Cameron appeared in Whitehall to announce his resignation in what had already become a day of records.

Gold & Silver Prices


All this time gold was soaring and the British Pound was folding. Gold in GBP started... Continue Reading
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