Chart of the week: gold’s record surge against sterling

As the EU referendum results emerged, gold rose more than 6% overnight in dollar terms as nervous investors piled in. Priced in sterling, the overnight jump was 22%, a record move.

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As the EU referendum results emerged, gold took off like a rocket, gaining more than 6% overnight in dollar terms as nervous investors piled in. Priced in sterling, which was hurtling downwards, the overnight jump was 22%, a record move, according to Adrian Ash at online gold investment service BullionVault.com, which saw record transaction volumes on Friday. The sterling price has eclipsed £1,000 an ounce, a three-year high.

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