Over the years, Gold has maintained a good reputation as a safe haven for investors in the events of catastrophe, and economic downturn. Gold acts as the best monetary insurance policy that never goes wrong. The reason behind the safeness in Gold is the fact that its value does not depend on banks, Stock Markets, or Governments. Buying gold has always been the best measure against unprecedented events, and will always lead as a safe haven for securing wealth against factors that may affect the currency. Its value is solely dependent on the overall free market.
When Britain voted to leave the European Union, the shockwaves led to a panic that later saw Gold achieves a first 2 year high. Financial Analysts argued that the rise in the price of Gold is due to its safe features that investors panicked towards, in the wake of the Brexit vote that saw the United Kingdom leave the European Union. Gold has maintained a consistent value over time, unlike currency that is irrational and can fluctuate announced. The panic, however, would see gold prices shoot up to new high value, that on the other hand saw most investors lose the profits that would have been realised. The Brexit event would eventually boil the gold value down to when you actually buy.
Royal Mint, a trusted producer of both Silver and Gold Coins, saw a rise in the buying of its Britania Bullion Coins and Gold Coins by 32 percent in the month of June. The Referendum vote acted as one of the major factors that drove the price surge on currencies, and as expected investors sought out their last resort with an aim to secure their wealth through the storm. The CEO of Pure Gold Company said that people are now buying Gold at a high speed than any other time in a year, and also pointed out the extreme at which investors are converting 40 to 50 percent of their wealth to Gold.
The online trading platforms also saw the amount of gold and silver being traded online skyrocket to a new high that amounted to seven times the average of the last 12 months. The referendum vote panic affected the London Property Market, since the uncertainty in the UK financial System after the Brexit made many people with the aim of buying property postpone, and instead buy gold and hold for long periods of time.