There appears to be an increasingly close relationship between the gold price and the chances of the UK voting to leave the European Union, as implied by bookmakers’ odds. This is consistent, of course, with the precious metal’s traditional role as a safe haven, as well as the impact that the global uncertainty prompted by “Brexit” might have on US monetary policy. Indeed, a vote for Brexit could easily see the gold price surge to $1,400 per ounce by the end of the month, from $1,270 today.
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