Gold rate in UK

Gold prices in UK

Most investors, especially those who are new to the market, fears the possibility of gaining loss: stock market retreat, the collapse of banks or other financial institutions, or runaway inflations. As these possible mishaps in the market are being said, gold has somehow gained the attention of most of the investors. In fact gold has always been viewed as a safe haven; this is the reason why gold rate in UK and other countries are being monitored, as investors are always anxious about the changes of the said commodity.  

Since the Brexit vote, the gold rate in UK began rallying when the global market hits a rocky patch in 2015, the announcement of the Brexit poll made larger gains during this period. However, since June 23 2016 the FTSE World Index has performed better than the gold, the 50pc gold portfolio returned 17pc over the period, compared to 32pc for the 5pc portfolio.

Still, a number of domestically-focused shares have outpaced the gold too. This is despite initially falling heavily while the gold jumped in value, the FTSE 250 index returned 15pc since June 23 last year, compared to 9pc for the S&P GSCI Gold Spot. In addition, gold rate in UK rose sharply on May 2017 buoyed by political turmoil in Washington.

In accordance to this, the price of gold in UK hit a two-week high of $1.262 per ounce. Gold saw initial gains as a result of the shock election for investors in the UK, across the rest of the world. The price of gold in UK did not budge on June 2017. Gold price in sterling rose as much as 2.2% to 1,007.52 an ounce, which is considered as a seven-week high. This was driven by the British pound sterling which sank after the British Prime Minister: Theresa May failed to win an overall majority on the previous UK snap elections that was held on June 8, 2017.

 

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