Gold futures skyrocketed Friday morning after Britain voted to leave the European Union, sending shockwaves through global markets.
Bolstered by safe haven demand, gold for August surged up $57, or 4.5%, to $1320 an ounce.
The win for Brexit was officially declared by Prime Minister David Cameron, with the final result 51.9% for “leave” and 48.1% for “remain.” Cameron then resigned.
“The British people have made a very clear decision to take a different path, and as such I think the country requires fresh leadership to take it in this direction,” Cameron said in a speech.
Meanwhile, the European Central Bank said it is ready to provide support for the Euro area economy in the wake of the UK vote.
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