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Gold priced in pounds hits highest since May 2013

Published 16/06/2016, 05:45 pm
© Reuters.  Gold priced in pounds hits highest since May 2013

LONDON, June 16 (Reuters) - Gold priced in sterling rose 2 percent on Thursday to its highest since May 2013 as worries Britain may leave the European Union in a referendum next week kept the British pound close to a two-month low versus the dollar GBP= .

Gold denominated in sterling XAUGBP=R hit a high of 928 pounds at 0725 GMT. The metal is usually seen as a safe haven in times of financial and economic uncertainty.

Global policymakers, including U.S. Federal Reserve Chair Janet Yellen and Bank of Japan Governor Haruhiko Kuroda, have highlighted concerns about the June 23 British referendum as fears of a vote to leave the EU, or Brexit, have rattled financial markets. The pound and the euro have lost value on fears a Brexit could tip the 28-member bloc into recession.

Latest polls and bookmakers' odds showed a rising chance of a Brexit vote. MKTS/GLOB

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