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Brexit and the Troubles Ahead by Philip Diehl

Global markets are gripped by fear for a second time this year. The first shock came in early January when the world woke up to the implications of a hard landing of the Chinese economy. A measure of that shock came in the form of a rise in gold prices of $100 an ounce over the next month.

 

The second shock came out of the United Kingdom last night with news that voters had approved a referendum to take Britain out of the European Union (popularly known as “Brexit”). Gold rose, again, as fear swept through markets around the world. But this time prices rose $100 an ounce in six hours instead of 30 days. (By the time U.S. markets opened this morning, gold had given back about 25 percent of this gain.)

 

To read the full article, go to The Hill website found here.

 

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