Gold soars

Reuters

Manila/Tokyo

Gold rallied the most since the 2008 global financial crisis and oil and copper tumbled on Friday, as Britain´s vote to leave the European Union rattled commodities markets, forcing a selloff in risky assets and a rush to safe havens.

Sharp falls in oil, base metals and grains mimicked other financial markets, which dived as complete results from a British referendum showed a near 52-48 percent split for the UK leaving the European Union.

The vote created the biggest global financial shock since the 2008 crisis, this time with interest rates around the world already at or near zero, stripping policymakers of the means to fight it.

Sterling suffered its biggest one-day fall in history, plunging more than 10 percent against the dollar to levels last seen in 1985 on fears the decision will hit investment in the world´s fifth-largest economy.