Gold HIGH Three Percent

Gold rose more than 3 percent and oil futures dropped below USD 50 a barrel amid sharp price swings on Friday, as official results so far from a British referendum showed a tight race between campaigns to remain in or leave the 


EUROPEAN an Union. Copper came off a seven-week top, but losses were marginal while grains stabilized as initial results from a referendum on Britain's 43-year EU membership poured in. China-traded commodities barely reacted, with actively traded iron ore and rebar futures largely steady. "It's like a rollercoaster ride in the markets right now, but it's too early to tell which side is going to win," said Bob Takai, president at Sumitomo Corp Global Research.

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