Gold expected to rally as Brexit prompts Fed to hold rates

Singapore

GOLD will probably extend gains this half as Britain's vote to quit the European Union adds to the case for the US Federal Reserve pausing on interest rates, according to Ivan Szpakowski, who left Citigroup Inc earlier this year to set up a hedge fund that started trading in May.

"It's going to end the year even higher," said Mr Szpakowski, chief investment officer at Academia Capital LLC. While the fund will have an emphasis on commodities including energy, metals and bulks, it will also trade currencies, rates and equities, he said, declining to give a figure for assets.