ON FEBRUARY 20th David Cameron, Britain's prime minister, set June 23rd as the date for a referendum on the country’s membership of the European Union. His announcement followed a protracted renegotiation of the current conditions of Britain’s membership at a summit in Brussels.
The move immediately prompted government ministers to declare their backing for either the “remain” or “leave” campaigns. Mr Cameron strongly believes in the benefits of continued EU membership, but a handful of high-profile MPs, including justice secretary, Michael Gove, and London's mayor Boris Johnson, have pledged support for the “out” campaigners.
In early 2015 the chances of ”Brexit”— Britain departing from the European Union—seemed remote. Today, largely because of Europe’s migration crisis and the interminable euro mess, the polls have narrowed. Some recent surveys even find a majority of Britons wanting to leave.
Should the UK leave the EU then this will have a knock on effect on both the pound and the Euro and indirectly the US Dollar, thus affecting the price of gold in dollar terms.
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