Theresa May Quits As PM – Gold In British Pounds Reaches £1,015 Per Ounce

May 26, 2019
  • Gold in British pounds consolidates over £1,000 per ounce after reaching £1,015 per ounce due to political uncertainty and concerns of a Hard Brexit
  • Theresa May, in an emotional speech outside 10 Downing Street, said she had “done everything” she could to convince MPs to back the withdrawal agreement she had negotiated with the EU
  • “I will shortly leave the job that it has been the honour of my life to hold” May said. She said that it was with “deep regret” that she had ultimately failed to reach a consensus on Brexit
  • Political fragmentation and divisiveness and the increasing risk of radical parties of the left and the right will create significant uncertainty and impact the pound in the coming weeks
  • The “elephant in the room” is the massive total UK debt which is completely unsustainable and yet is being ignored with all the focus on Brexit

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Mark O'Byrne is executive and research director of www.GoldCore.com which he founded in 2003. GoldCore have become one of the leading gold brokers in the world and have over 4,000 clients in over 40 countries and with over $200 million in assets under management and storage.We offer mass affluent, HNW, UHNW and institutional investors including family offices, gold, silver, platinum and palladium bullion in London, Zurich, Singapore, Hong Kong, Dubai and Perth. 

The first use of gold as money occurred around 700 B.C., when Lydian merchants (western Turkey) produced the first coins