Emotions are running high Friday in the market, as the U.K. voted by a narrow margin to leave the European Union.
The British pound has fallen to lows not seen since the days of Prime Minister Margaret Thatcher, bringing the euro down part of the way. Stock markets around the world are tumbling, with the Nasdaq Composite opening 5% down.
Investors are bracing for continued turbulence as uncertainty and panic take control.
And whenever those two emotions rear their ugly heads, investors turn to gold as a way to profit.
Gold, often considered a safe haven from the markets ups and downs, is soaring Friday. Overnight, prices for the yellow metal spiked as high as $1,362.60 per ounce, the highest level since March 2014.
In reality, gold can be just as volatile as any other commodity or even stock. This week, when it looked like a Brexit was improbable, the metal plunged to a two-week low.
Gold may be safe when stocks and currencies are plummeting, but periods of relative calm elsewhere can send gold prices off a cliff.
With gold prices just as uncertain as anything else, the metal is far from being a true safe haven. Instead, profits can be made by skillfully playing both the ups and the downs in gold's price.
Here are seven top ways to profit from gold's wild mood swings. Investors don't even need to own bars or bullion, as all seven trade on U.S. stock exchanges.