by Lynette Zang from ITM Trading
Theresa May resigned as prime minister of Great Britain, after many failed attempts at negotiating an exit from the European Union. At the same time, Nigel Farage’s new Brexit Party has risen in popularity. If he takes Theresa May’s place, a hard Brexit is the most likely outcome. A hard Brexit would negatively impact the flow of goods and services between Great Britain and the EU and exacerbate the global trade crisis already evolving. Populism and nationalism have been growing globally, particularly since the financial crisis of 2008. This is the real issue for the traditional elite. Because it shows the erosion of public confidence. Perhaps that is also why, in UK, citizens have boosted their gold purchases to the highest level since 2012, just before the sovereign debt crisis became apparent in Europe. They also know that gold is certainty in an uncertain world.