FUNDAMENTAL ANALYSIS


FX


Could A Hard Brexit Trigger A Gold Rally? Keep Watching The Pound


Hard Brexit or not,


the British


pound is the key to a potential gold rally in any scenario, according to analysts. Outlandish scenarios aside, only an extreme Brexit resolution could trigger a significant move in gold prices,


noting that majority of the scenarios have already been priced in by the markets.


Te only thing leſt could be unexpected U-turn in the British pound, said Capital Economics


senior


commodities


economist


Ross Strachan. “Te most likely way there will be an impact at all on the gold market is through a major shiſt in the exchange rate, which could cause U.K. demand for gold to significantly shiſt because of the


FX TRADER MAGAZINE April - June 2019 41


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