by Daily Bell Staff
The Daily Bell
Gold faces own headwinds after Brexit shock … Analysts question whether bullion can rise further after solid gains already this year … As the UK voted to leave the EU, the only people celebrating more than Brexit politicians were a clutch of small brokerages that benefit when the world gets a little more volatile: bullion dealers that offer gold coins and bars to retail investors. – Financial Times
FT has reported on the increased interest in gold following Brexit but there are differing opinions regarding how it will do for the rest of 2016.
The paper quotes Helima Croft, head of commodity strategy at RBC Capital Markets, as follows:
“We believe that there remains limited price upside for gold from current levels after today’s safe-haven driven jump higher … Gold will have to contend with a strong dollar and will probably refocus on global monetary policy (namely the Fed) for the remainder of 2016.”