Gold prices continue to climb
Many analysts expected the pound to dip in value, as Britain continued to struggle with an outline plan for Brexit. Surprisingly, it seems the pound has taken another jump with UK prime minister Theresa May finally outlining some detail for Britons future.
Mrs May stated Britain "cannot possibly" stay within the European single market when Brexit takes it out of the political European Union. The speech sent the British Pound jumping over 3 cents to reach $1.23 against the Dollar. The price jump also represented a 2% value increase against the Euro.
Confusion in the market has stimulated a record amount of gold transactions, with many investors stocking up. Many feel with Briton leaving the EU, and a controversial figure sitting in the most powerful seat in the world, it could be a bumpy financial year.
Earlier in the week, gold prices settled at $1,218 per ounce, having experienced 8-weeks of continued growth. That’s an increase of 1.3% from the previous Friday.
Until more detail of Britons Brexit plans has been released, it could prove difficult for any realistic financial forecasting to be produced. For now, most will continue to try and ride the wave of growth gold is currently experiencing.