World Economy

Gold Highest Since 2008

Gold Highest Since 2008Gold Highest Since 2008

Gold rallied the most since the global financial meltdown of 2008 after the UK voted to leave the European Union, sending markets into a tailspin and investors piling into haven assets, Bloomberg reported. Bullion for immediate delivery jumped as much as 8.1%, the most since 2008, and traded at $1,322.88 an ounce in London. Prices touched a two-year high and trading volume on Comex was eight times the average. Denominated in sterling, the metal soared a record 15% to £972.72. Societe Generale SA said in a note this week that gold could hit $1,400 in the event of a Brexit vote. The metal is up 24% for 2016.