WASHINGTON (dpa-AFX) - Gold prices stormed higher Friday, surging to 2-year highs as traders flocked to the safety of the precious metal.
The UK's surprise vote to leave the European Union has sent shockwaves through the global markets.
Analysts now expect the Federal Reserve to delay raising interest rates in the U.S. until next year.
Some are even calling for the Fed to cut interest rates back to zero in order to insulate the U.S. economy from global headwinds.
August gold rallied $59.30, or 4.7%, to settle at $1,322.40/oz.
Copyright RTT News/dpa-AFX