Gold and silver are two of the biggest Brexit winners

A week after a referendum in which the British people voted to leave the EU, gold prices are at their highest in two years. The situation is no different in the case of silver. An ounce of metal costs over $ 18. There is a lot of interest in the market for these metals.

Gold and Silver are the two winners after the Brexit referendum results are summed up. Support in the form of negative bond yields and a softer position on the Federal Open Market Committee explain the high price of precious metals, according to Saxo Bank analyst Ole Hansen.

He noted that Brexit has helped further increase the number of investors actively investing in gold and silver over the long term. Not surprisingly, an ounce of gold is now worth nearly $ 1,400, the highest level since 2014. What about the yellow metal in the far?

In the short term, the metal may lose some value as some investors may wish to monitor earnings. On the other hand, in the long term and in the face of many market risks, gold is a kind of oasis of peace and security, Hansen emphasizes.