HSBC: Gold Could Jump 10% In The Event Of Brexit

Rupert Hargreaves

Published onJune 15, 2016

Updated on May 13, 2021

“Gold is a reliable barometer of risk, and we believe it could rally by up to 10% should the UK vote to leave the EU,” that’s according to a flash research note from HSBC’s chief precious metals analyst James Steel sent to clients today.

Billionaire Investors Back A Gold Price Rally In 2016

According to the report, if the UK votes to leave the European Union on June 23, the price of gold could rally by 10% to around $1400 an ounce as investors look to the yellow metal to provide a safe haven in times of uncertainty. What’s more, gold could also benefit from the reluctance of investors to move into sterling or even the euro following a ‘leave’...

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Rupert Hargreaves

Sign up now and get our in-depth FREE e-books on famous investors like Klarman, Dalio, Schloss, Munger Rupert is a committed value investor and regularly writes and invests following the principles set out by Benjamin Graham. He is the editor and co-owner of Hidden Value Stocks, a quarterly investment newsletter aimed at institutional investors. Rupert owns shares in Berkshire Hathaway. Rupert holds qualifications from the Chartered Institute For Securities & Investment and the CFA Society of the UK. Rupert covers everything value investing for Hedge Fund Alpha

HSBC: Gold Could Jump 10% In The Event Of Brexit

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