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Gold jumps, oil falls on news of UK vote (Amended)

Gold price could reach US$1,400 an ounce, say analysts; impact on oil is expected to be temporary

Published Fri, Jun 24, 2016 · 09:50 PM
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Singapore

GOLD surged to its highest level in two years while oil slumped in the wake of the vote by Britain to leave the European Union.

And even as analysts predict the gold price to rise even further, buttressed by safe-haven demand, gold dealers in Singapore were already seeing increased levels of activity on Friday.

The gold spot price jumped to as high as US$1,356.86 an ounce on Friday noon as results of the vote broke.

It pared its gains slightly as the day progressed to trade at US$1,320 an ounce at 7pm Singapore time, …

KEYWORDS IN THIS ARTICLE

oil
Brexit

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