Gold is soaring

Photo: Hannes Magerstaedt/ Getty Images.

Market turmoil is good for one commodity: gold.

Investors are fleeing to safety as the United Kingdom appears to have voted to leave the European Union.

As of 6:27 a.m. (1:27 a.m.), gold has soared 5.69% to roughly $1,335 an ounce. The precious metal had dived as low as $1,255 an ounce at and risen as much at 7% around earlier on Friday morning.

Most of the major British media outlets have called the vote for an exit.

Here’s the chart:

To follow along as results roll in live, check out Business Insider’s live-blog.

NOW WATCH: Movie theatre soda is a rip-off — but it’s not the highest marked up item out there

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.