A-Mark Bullion Update
6.21.2016. The last time I wrote this report on June 9th, gold was at $1,270 and silver was at $17.30… one would think that the metals had barely moved! Gold took another crack at the psychological barrier of $1,300 last week but ultimately failed yet again to sustain gains above it. Now the market is anxiously awaiting the results of the imminent Brexit decision. On Thursday, UK voters will head to the polls to decide whether or not the United Kingdom will remain a part of the European Union. The general thinking is that if the UK votes to stay in, gold will sell off. If they vote to exit EU membership, gold will sky rocket. The world’s most famous currency speculator George Soros has gone as far to say that a UK exit could mean as much as a 20% drop in sterling. Soros also endorsed owning gold in the last month ahead of the referendum. Polling results should start to leak on Thursday night (pacific time) and we’re expecting some volatile price movements in gold, and silver by association, for the Thursday and Friday trading sessions.