Gold keeps to 2-week minimums

On Thursday, gold futures struggled for direction close to two-week minimums in European trade because British voters go to the surveys for a referendum on the EU membership.    

The financial markets are waiting for the outcome of this long-awaited vote. Friday morning they’ll know the truth. Recent surveys demonstrated that the race between the Remain and Leave camps appeared to be a close call.     

In New York, August delivery gold futures descended to an intraday minimum of $1,261.50 per troy ounce, the weakest outcome since June 9. Last it traded at $1,271.25, a 0.1% surge.    

Yesterday, gold dipped $2.50, sliding 0.2%, following surging expectations that the United Kingdom would vote to stay in the European Union.

Gold edged up to $1,318.90 the previous week, the greatest surge since August 2014, as concerns as for a probable exit by Great Britain from the European Union left traders scrambling for safe haven assets.

Meanwhile, July delivery silver futures acquired 2.8 cents, hitting $17.34 per troy ounce in London, while copper futures lost 0.2 cents, trading at $2.138 per pound.

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