Alternative investment: Pedestrians walk pass a precious metal merchant in Hatton Garden, London. Gold has soared after the UK’s vote last week to quit the European Union as investors seek a haven from financial turmoil and contemplate the possible implications. — Reuters
SINGAPORE: Gold may stand at the start of a major bull market should the UK’s Brexit vote prove to be a forerunner of greater political and financial instability around the world, according to Evolution Mining Ltd’s Jake Klein, a veteran of more than 20 years in the industry.
With the rise in uncertainty, investors are coming back to the market, the executive chairman of Australia’s second-biggest producer said in an interview with Bloomberg Television. “It is an alternate currency, it’s performed that role” as a haven for over 2,000 years, he said.
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