Brexit Has Affected Gold Prices

Brexit, Silver and the State of the World

The people already have made up their mind for Brexit despite the fact that it sent ripples through the markets. Based on some experts, they likely believed that this will cause economic chaos in the European Union, including banks and thus, leading to a recession.

Now, how do you think the Brexit affects the prices of silver, bullion, silver buffalo’s and American Silver Eagles? This will have a huge impact on their prices and they will soar. In regard to investors, they will just intend to pull their money from the banks and stock markets. Their usual technique will be to seek safe-investment havens from where they can place their assets.

In the event that the Euro currency drops, they will make an effort to find some hard assets and real money like gold and silver. These are all fears that are a part of the sudden increase in crypto-currencies like Ethereum and Bitcoin.

Even according to the head of investment and research strategy at ETF Securities, he stated that Brexit would prove to be beneficial to sterling but not in terms of gold. In this case, it is expected that gold could hit 1,400 dollars in ounce.

It was also predicted that 1,400 dollars an ounce will be the realistic expectation for Britain’s withdrawal from the EU.  This scenario was likely based from Greece leaving the Eurozone during the summer season  just last year.

If Britain will still stay in the European Union zone, it is asserted and estimated that the silver will reach 20 dollars an ounce while gold will reach 1,400 dollars.  But, as insisted by the majority of people in the United Kingdom, Brexit will bring uncertainties in the prices of gold, silver, Silver buffalo’s and American silver eagles.

It has been advised by the experts to purchase precious metals in each time that the Fed will raise interest rates. This is simply due to the reason that people go in panic and sell these precious metals. Other analysts also have predicted that the price of gold will go up as high as 1,600 dollars an ounce while the price of silver will reach as high as 27 dollars.

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