Gold rockets to highest since March 2014 on Brexit victory

Gold’s status as the ultimate safe-haven was bolstered on the historical ‘Black Friday’ after the UK voted to exit the EU’s membership, with Brexit now finally announced.

Risk-aversion persisted at full steam so far this Friday, as investors flocked to safety amid global stock markets meltdown and a complete crash across the fx board. Therefore, the safe-havens such as the yen, gold, treasuries etc., were heavily bid, with gold flying to fresh more-than two-year highs printed at 1358.40.

At the time of writing, gold retraces to 1320 levels, still up +4.25% on the day.