Gold prices are likely to explode if Britons vote to leave the European Union when they go to the polls next Thursday, gaining as much as 10% in a short space of time.
Gold is seen as a haven for cash. It does not pay a coupon like a bond, and it does not pay a dividend from a stock, but it does mean you own ounces in a physical precious metal that you can hold onto.
And it is for this reason that chief precious metals analyst James Steel and his team at HSBC say that the precious metal will take off after a Leave vote in the UK’s European Union referendum when market turmoil will reign supreme. Here is the quote (emphasis ours):
George Soros has joined fellow billionaire investors Stan Druckenmiller and Ray Dalios on investing big in gold – George Soros Making Big Bets on Gold