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PRECIOUS-Spot gold climbs 1 pct, investors seek safe-haven after 'Brexit' vote

Published 2016-06-26, 07:25 p/m
© Reuters. PRECIOUS-Spot gold climbs 1 pct, investors seek safe-haven after 'Brexit' vote
XAU/USD
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GC
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MELBOURNE, June 27 (Reuters) - Spot gold climbed more than 1
percent on Monday as aftershocks from Britain's vote to leave
the European Union pushed investors towards the safe-haven
asset.
Britain plunged deeper into political crisis on Sunday after
its vote last Thursday, leaving EU and world officials confused
about what to do next.
British Finance Minister George Osborne, who had warned
during the campaign that a "Brexit" would cause financial market
volatility, scheduled a statement for 7 a.m. (0600 GMT) on
Monday to provide reassurance about "financial and economic
stability".
Spot gold XAU= had risen 1.35 percent to $1,332.8 an ounce
by 2306 GMT, after prices in the previous session surged by 4.8
percent to top out at $1,358.20 - the highest since March 2014.
U.S. gold GCcv1 rose 1 percent to $1,336 an ounce.
In wider markets, U.S. stock futures dipped and the British
pound fell more than 1 percent in early Asian trade on Monday,
as markets struggled to shake off a swathe of uncertainty
sparked by Britain's decision on the EU. MKTS/GLOB


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