Tight range on Gold preparing the next sharp move

Market news

22 June 2016

Tight range on Gold preparing the next sharp move

So far today's range is just 5$/ounce but things will change for sure tomorrow because of the Brexit referendum. Gold will move regardless of the Brexit outcome because of its safe heaven status. A remain vote will lower the demand for safer assets while the big (enormous) move will come if UK votes to leave. Then, the majority of inverstors will turn to gold and the price will quickly go up.

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