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Today's Commentary
 
Tuesday, June 28, 2016


The United Kingdom's referendum on whether to stay in or leave the European Union has been big driver of currency and stock market volatility, but gold is also feeling the effects of uncertainty over the Brexit vote. And even as gold slides from its recent highs, two experts argue that it could rally no matter which way Thursday's vote comes down.

"I think that gold works whether we get that Brexit and chaos ensues [in which case] gold goes higher or if peace prevails on the 'Bremain,' the dollar eases, providing a bid into gold, commodities and high yield," Rich Ross, head of technical analysis at Evercore ISI, said Wednesday on CNBC''s "Power Lunch."

"Whether Britain 'Brexits' or 'Bremains,' gold should 'brenefit,'" Ross quipped.
 
  


 
 
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