London | Gold surged to the highest level in more than two years in a frantic global hunt for haven assets as Britain’s voters were projected to back leaving the European Union after a historic poll.
Gold jumped as much as 8.1 per cent to USD 1,358.54 an ounce, the highest price since March 2014. The rally was the biggest daily jump since 2008. Tracking gold, silver too zoomed 2.81 per cent to trade at USD 17.72 an ounce.
Bullion powered ahead amid turmoil in global financial markets as the pound was driven the lowest level in more than three decades, equities tanked and investors fled from risky assets.