Brexit result sends gold futures surging to 2-year high

Gold prices surged in electronic trade early Friday morning, surging past $1,300 and toward a multiyear high after early reports pointed to the U.K. exiting the European Union after a historic referendum.

Gold futures GCQ6, +4.58%  bolted $73.90, or 5.3%, higher to $1,335.30 an ounce, after settling lower Thursday for a fifth straight day after polling ahead of Thursday’s so-called Brexit referendum signaled a slight edge to the “remain” camp.

The moves for gold pushed it on pace to touch its highest level since March 2014, according to FactSet data.

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