Gold extends gains
 

Reuters

Bengaluru

Gold climbed on Monday, trading near a more than two-year peak reached in the previous session, as investors sought refuge in the safe-haven amid eco**mic and political uncertainty after Britain voted to exit the European Union.

Bullion surged 4.8 percent on Friday, its biggest single-day gain since January 2009, as the British exit, or Brexit, forced a selloff in risky assets from industrial commodities to stocks and sterling. The pound and Asian stocks continued to reel on Monday. Finance minister George Osborne said Britain´s vote to leave the bloc was likely to lead to further volatility on financial markets but said the eco**my was about as strong as it could be to cope with the challenge ahead.

Spot gold rose as much as 1.5 percent to $1,335.30 an ounce and was trading at $1,326.61 by 0645 GMT, up 0.9 percent.

The metal rallied as much as 8 percent on Friday to peak at $1,358.20, the highest since March 2014.

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