Price of gold jumps

The price of gold jumped today to the highest level in two years, following the Brexit vote, which caused the crisis in the markets of the world and increased the demand for gold, reports the New York agency Bloomberg.

As the American TV network CNBC reports, the price of gold jumped by eight percent to the highest level in two years, whereas the scope of the futures trading was six times bigger than average.

The price of gold for direct shipment jumped, according to Bloomberg, by 4.7% to USD 1,316.05 per ounce before 11 a.m. in London, due to which the price of the precious metal is now near the record value from June 16.

Societe Generale previously announced that the price of gold might reach USD 1,400 per ounce in case of Brexit.

- The scope of trading which was witnessed last night cannot be compared to anything – stated chief market analyst of the London brokerage firm TF Global Markets Naeem Aslam and added that certain clients were frustrated because they couldn’t make orders fast enough.

The price of gold has jumped by 24% this year, since the expectations that the American Federal Reserve System (the Fed) would keep the interest rates low led to the weakening of the dollar.