Is London’s’ Gold Hub Status at Risk Post-Brexit?

As markets continue to digest last week's Brexit vote, many are now questioning whether or not London will slowly lose its 'hub' status.
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KITCO NEWS - As markets continue to digest last week's Brexit vote, many are now questioning whether or not London, traditionally known for its vital role in the gold (GLD) - Get Report market, will slowly lose its 'hub' status. According to the World Gold Council, it might be too early to tell. Speaking with Kitco News, the World Gold Council's director of investment research, Juan Carlos Artigas said regardless of what happens, other cities have already started to become vital to the global gold trade. 'The infrastructure of the gold market has been expanding globally even before anything that happened in the UK,' he said. Looking at the safe-haven demand in gold following the UK referendum, Artigas says this surprising event has simply cemented the case for gold for investors. 'The reality is that even if the UK were to have voted to remain in the EU, we think that the case for gold was still very solid,' he said. 'This definitely solidifies the case and puts gold int he minds of many investors.'

This article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.