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PRECIOUS-Spot gold climbs 1 pct, investors seek safe-haven after 'Brexit' vote

Published 27/06/2016, 09:25 am
© Reuters.  PRECIOUS-Spot gold climbs 1 pct, investors seek safe-haven after 'Brexit' vote
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MELBOURNE, June 27 (Reuters) - Spot gold climbed more than 1 percent on Monday as aftershocks from Britain's vote to leave the European Union pushed investors towards the safe-haven asset.

Britain plunged deeper into political crisis on Sunday after its vote last Thursday, leaving EU and world officials confused about what to do next. Finance Minister George Osborne, who had warned during the campaign that a "Brexit" would cause financial market volatility, scheduled a statement for 7 a.m. (0600 GMT) on Monday to provide reassurance about "financial and economic stability".

Spot gold XAU= had risen 1.35 percent to $1,332.8 an ounce by 2306 GMT, after prices in the previous session surged by 4.8 percent to top out at $1,358.20 - the highest since March 2014.

U.S. gold GCcv1 rose 1 percent to $1,336 an ounce.

In wider markets, U.S. stock futures dipped and the British pound fell more than 1 percent in early Asian trade on Monday, as markets struggled to shake off a swathe of uncertainty sparked by Britain's decision on the EU. MKTS/GLOB

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