Gold Silver Reports — Gold market dealings may turn volatile this week ahead of the June 23 referendum when Britain will vote on whether to remain in the European Union or to leave, as per traders and experts.
Brexit likely to turn Gold volatile this week
The Bank of England escalated its warnings about fallout from the vote, saying it could harm the global economy and that sterling looked increasingly likely to weaken further if “Leave” wins. Asian physical gold demand remained subdued this week as the metal rallied to its highest in nearly two years, with discounts in India widening till $17-$18 against LBMA the most in 3-1/2 months as consumers shied away from making new purchases.
Meanwhile Jewellers are maintaining thin inventory due to weak retail demand. They will replenish inventory just before the start of the festival season in August. — Neal Bhai Reports