Gold is the biggest winner after the UK referendum and is about to record the biggest gain since 2008

Gold rose broadly on Friday to be  the biggest winner with the support operations of buying the metal as a safe haven, after the UK referendum resulted the exit of the United Kingdom from the European Union and the metal is heading to the biggest one-day gain to achieve since the global financial crisis in 2008.

Gold By the time 09:20 GMT, is trading around $ 1311.10 per ounce,  from the opening level of $ 1251.74 and recorded its highest level of $ 1358.42 the highest since 18th of March 2014, and a low of $ 1250.25.

Gold prices yesterday fell 0.8 percent, the fourth straight daily loss, due to speculation that the British vote in favor of the survival of their country within the European Union, according to the latest opinion polls published in British newspapers.

Gold rose 8 percent, hitting its highest level in more than two years, on the way towards achieving the biggest daily gain since the global financial crisis in 2008, with the support of the vast mineral procurement processes as a safe haven amid the sell-off that hit, bonds and assets high-yielding stock markets.

Britain's referendum resulted the vote of 51.8 percent of Britons in favor of secession from the European Union compared with 48.2 percent voted in favor of survival, and the referendum caused the biggest shock to global markets since the 2008 financial crisis.

It is expected that Britain's out of the European Union leads to a strong relapse for the global economy, which suffers from the weak growth rates and a slowdown in the pace of inflation, which will put more negative pressure on the world's central banks, which may rush to promote stimulus policies in the near future and resort to widespread use of negative interest rates.

It is expected that this result also lead to difficulty of the Federal Reserve to raise US interest rates this year, after Janet Yellen president of the Council confirmed last week that monetary policy makers decided to keep interest rates steady with the risks especially Britain's referendum to get out of the European Union .

Gold holdings at SPDR Gold Fund Trust biggest global indicators gold-backed funds remained yesterday without any significant change, after a wave of increase over the 10 consecutive days within a longer series increase since May last, to keep total holdings at 915.9 metric tons is the highest level since October 2013.