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ETF Securities Revises Fair Value Target as Brexit Gold Rush Continues. ETF Securities has adjusted its fair value target for gold to $1400, amid a surge in appetite for the precious metal.

ETF Securities Revises Fair Value Target as Brexit Gold Rush Continues. ETF Securities has adjusted its fair value target for gold to $1400, amid a surge in appetite for the precious metal.

Townsend Lansing, Head of ETCs at ETF Securities says the referendum result has sparked a $200m surge in appetite for gold, as investors fled to safe havens.

“We have seen a whirlwind since the early hours of Friday, with inflows nearing $200m, and there is no sign of appetite for precious metals diminishing in the first full week of the Brexit era,” he said.

“Before the referendum, we saw record inflows into our short GBP products, as clients looked to hedge Brexit risk. Some of those clients are unwinding that hedge, while others are looking to take tactical FX positions on both GBP and EUR crosses,” he added.

“Finally, investors are looking at short or leveraged equity products, in particular the 2x and 3x short FTSE 100 products in order to capitalise on uncertainty on UK equities.”

ETF Securities – The intelligent alternative

The ETF Securities Group is one of the world’s leading innovators of Exchange Traded Products (ETPs) and provides specialist investment solutions to investors around the world, enabling them to intelligently build and diversify their portfolios.

We are pioneers in specialist investments, having developed the world’s first gold exchange traded product. Today we offer one of the most innovative ranges of specialist ETPs covering commodities, FX, equities and fixed income. Using that pioneering spirit, our unrivalled expertise and by working with best-in-class third parties, we seek out the most interesting investment opportunities and make them accessible to investors as the intelligent alternative.

For further information, please contact the press office on:
T: +44 (0) 20 7448 4330
E: press@etfsecurities.com

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