Sterling has surged over 1% against the U.S. dollar causing the gold price to fall to £1,005 per ounce following Theresa May's snap decision to hold a general election.

May said Britain needs certainty, stability and strong leadership following the triggering of article 50. May hopes the election will result in a stronger Conservative government and kill off any idea of a second EU referendum.

The latest polls give the conservatives a double-digit lead over a labor party in disarray. Despite being in a commanding position there are number of dangers facing the After a shambolic showing in the 2015 election the Liberal democrats support will no doubt return on a pro-Europe platform.Tory government. If the SNP strengthen their position in Scotland the calls for a second Scottish referendum will only grow stronger.