Gold soared above US$1,300 this week to its highest for almost two years after the latest meeting of the US Federal Reserve and as the impending BREXIT vote looms.
The gold price slipped back in the following days, but Daniel Briesemann, analyst at Commerzbank, tells Proactive Investors “risks are still prevailing” adding that “we will see a further move upwards next week”.
“Over the last few weeks, the risk coupled with the BREXIT referendum has come into play and that’s the main issue at the moment” he adds.
“In a world where risks are dominant, if you are looking for a safe haven and do not want to invest in risky assets then gold is definitely the place to be”.
