SPDR Gold Trust (ETF) (NYSEARCA:GLD) and the corresponding gold prices added biggest single day gains today since 2008 after Britons left markets flagger-busted by opting to leave the European Union. The decision unleashed global turmoil as investors shifted to safe-haven assets.

Britons shock the world

Right after Brexit results, gold jumped nearly 8% to more than two-year highs. However, it pulled down a bit later to $1,321.50, but still up 4.63%. British referendum results showed 52-48% split between votes in favor of leaving EU, which started a wide turmoil leaving little means to policymakers to control it.

Today’s event makes Britain first country to exit the 28-nation Euro bloc. Analysts have cautioned that both UK and Europe should prepare to face the consequences of the former’s self-harming decision. Vishnu Varathan, an economist at Mizuho Bank, said Brexit will deplete Europe’s newly found recovery while UK will see its stimulus effects vanishing.

Gold stocks present an opportunity

Amidst these recent developments, Barry James, President at James Investment Research, highlighted that Brexit has created opportunity in gold stocks, and investors should buy them while they are available at discounted rates. By walking the talk, James revealed that his company has bought a stake in Newmont Mining Corp (NYSE:NEM). He added that Newmont has actively trimmed their expenses and should see impressive earnings in the near future. James reiterated that commodities will be the only benefactor from Brexit, which is why it makes sense to monetise from the opportunity.

In other gold-related stocks, Kinross Gold Corporation (NYSE:KGC) entered into an arrangement with Yorbeau Resources Inc. The company has reportedly signed a Letter of Intent (LoI), which will give it an option to buy 100% stake in Yorbeau’s Rouyn property in Quebec, Canada. It is to be noted that Rouyn is being seen as a potential major gold deposit location and could translate into both discovery and mining opportunities for Kinross.