Gold +24% In H1, Silver Hits 2-Year $19 High As Brexit Pushes UK To New QE

Gold +24% In H1, Silver Hits 2-Year $19 High As Brexit Pushes UK To New QE by Adrian Ash, Bullion Vault

GOLD and SILVER both headed for new multi-year weekly closing highs in London trade Friday, extending their strongest 6-monthly gains since summer 2011 after the UK’s Bank of England said it is poised to start new quantitative easing money-creation and bond-buying in response to last week’s ‘Leave’ decision in the Brexit referendum.

Having repeatedly warned that Brexit risked causing recession for the world’s fifth largest national economy (now No.6 thanks to the Pound Sterling’s plunge), BoE governor Mark Carney last Friday said £250 billion stood ready to support UK banks and markets.

” Plan beats no plan,” he...