HSBC: Gold will explode if Britain votes for a Brexit

Posted by Business Insider UK

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2d6c91350ee90cb2cd767c52c27e2cfcGold 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):

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