Italy referendum – possible market volatility

2016 has already proved the most volatile year for gold and silver prices since 2013.

After the UK's Brexit referendum in June, Donald Trump's victory in the US election caused another spike in volatility in early November. Record trading volumes hit both the Shanghai Gold Exchange and New York's CME futures market on 9 November. Trading volumes on BullionVault hit one-third their record level of 25 June.

Now Italy goes to the polls on Sunday, voting in a referendum on the country's parliamentary system.

That result may seem less important to financial markets. But many analysts and traders see it as a vote on the Prime Minister, Matteo Renzi. With Italy's banking system once again in serious difficulty, a defeat for the Government may also increase pressure on Italy's bond prices, even risking a return of the Euro Crisis of 2010-2012. Results are due to start coming in early Monday morning, as next week's gold and silver trading begins in Asian hours.

BullionVault will of course be open 24/7 as usual. Please exercise caution if choosing to trade in what may prove a period of fast-moving action. The gap between buying and selling prices may become wider than normal.

As a reminder, you can also buy gold or silver at the daily global benchmark LBMA Gold or Silver Price. Your deal will be settled within 2 days. On the live Order Board, in contrast, settlement is instant. You can only buy or sell bullion already delivered inside the vault.

To keep track of live bullion prices, please use our live price chart, instant email price alerts or Twitter feeds.

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