Frantic Investment In Gold And Bonds Adds More Speculation To Panicking Global Market

Jon Mark - Author
By

Jun. 24 2016, Updated 3:50 p.m. ET

Since the U.K. voted to leave the EU, the investment trend is similar to a scene out of apocalyptic movies, as many sources — including Reuters — report that the global stock markets have taken a devastating tumble, losing an estimated $2 trillion in value Friday.

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The same source also quotes an investment strategist from BlackRock Inc. in New York who says that even if there was a temporary rebound for the British pound, sterling will still be low over the next six months as it’s widely reported to have plummeted after the news of the Brexit vote.

That investment strategist is Ewen Cameron Watt who says that people are buying Sterling pounds in order to sell it later, speculating it will do well later in the year.

The investment values are based on certainty (and in this case, uncertainty) of investor confidence, and there is certainly a lot of speculation.

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