24.06.2016 - The results of the referendum in the UK have led to an increase in gold
The price of gold has shown rapid growth within which has reached an important level of 1350 dollars per troy ounce, but after failing to continue the growth started to correct. The reason for the sharp rise in gold prices was the referendum on Britain's membership in the EU, as a result of which most of the voters supported the idea of the country's exit from the EU. This fact has led to instability on the financial markets and it will persist in the coming months. In addition, investors are afraid of the political tensions related to the possible withdrawal of Scotland and Northern Ireland from the United Kingdom. Volatility will remain high in the near future.
The price of futures on Light Sweet crude oil showed a sharp decline after it became clear that in the UK at the referendum voted in favor of the country's exit from the EU, leading to increased risk and therefore commodity prices fall. It is worth noting that after the sharp downward momentum, traders began to fix positions as a result, we have seen a significant rebound. In general, support for oil remains the decline in US production volumes, but it is compensated by the growth of supplies from OPEC countries. Oil prices may fall in the near future.