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    Forex News from New Forex: Gold falls before the defining day in the UK

    Today, on June 22, gold keeps negative dynamics before the referendum in the UK devoted to leaving the European Union. At the moment gold futures with the delivery in August shed 0.41% to $1.266.90. Spot gold lost 0.28% to $1.264.50. Gold holdings in the largest EFT-fund SPDR Gold Trust rose 0.39% on Tuesday to 912.33 tonnes, a high since October 2013.

    Only one day left before the main event in the UK, global markets sit on the hedge. Although recent opinion polls show the lead of Bremain, the difference is minimal and statistical discrepancy should not be excluded. Thus, market participants can’t eliminate the possibility of Brexit.

    If it happens, Eurozone economy might tip into a recession putting pressure on the global economy and increasing the investment attractiveness of precious metals.

    NewForex Analyst

    Sara Rosenstein


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