SaxoTV

Investors seek refuge in gold after Brexit vote: Hansen

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June 24, 2016 brent, brexit, central banks, commodities, commodity, crude, eu, gold, hansen, leave, levels, market, monetary policy, oil, ole, oleshansen, price, safe haven, saxo bank, saxo tv, saxobank, saxobank.com, saxotrader, saxotradergo, saxotv, strategy, trading, tradingfloor, tradingfloor.com, tradingfloorcom, uk, vote, wti
The market was completely unprepared for the UK voting to leave the EU, says Saxo Bank’s head of commodity strategy Ole Hansen. As a result, investors are seeking a safe haven in gold, which surged overnight as the result of the Brexit vote became clear.

Hansen looks at the next levels for gold, which now could head for $1,400/oz as stocks come under pressure and the US Federal Reserve may hold off hiking rates.  Hansen also looks at what’s happening in the oil markets and what levels traders should watch out for.