Gold prices reached a two-year high amid investor uncertainty in global economic growth after the decision of the UK to leave the EU, according to Bloomberg.
At the auction in Singapore on the morning of Wednesday, July 6, the price of gold rose 1.1% to $ 1371,39 per ounce, marking the highest level since March 2014, and continued to trade at $ 1367,64. At the same time, silver prices rose just 2.4% percent to $20,4103 per ounce and trading at $20,2469.
“Investors invest in gold, as there are growing concerns about the prospects for the world economy, and the political uncertainty,” said Bloomberg analyst at Shenhua Futures Co Wu Zhili,
On Tuesday, July 5, the Gold assets of stock funds rose 2% to 1997,28 metric, which was the highest level since 2013, says Bloomberg.