The UK’s referendum has been closely watched to see what final decision Brits take today. Not only equities, but the commodities market is also feeling the pressure of the impending decision. Discussing commodities, David Lennox of Fat Prophets says that if the UK decides to leave, US dollar will rally, which in turn will not be good for the commodities. In recent times, European oil demand has been slack due to the economic turmoil. But, if the economic growth comes back, some pressure will be seen on oil, he says. Gold, on the other hand, could spike to USD 1300 an ounce. Lennox expects gold to range at USD 1325-1330 levels. Watch video for more..
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