13 June 2016 at 8:58 GMT
Ole Hansen, head of commodity strategy at Saxo Bank, outlines how the UK vote on EU membership is affecting gold levels.
The ballot takes place on June 23, but Hansen says this week the precious metal has traded close to the highs seen earlier this year.
Hansen explains that because the US dollar is strengthening, the primary focus is gold against the euro which reached a three-month high earlier on Monday.
Support for metals is coming from the risk of a British exit from the EU, says Hansen.