Gold rallied to its highest level since 2014 on Wednesday while oil struggled to recover from deep losses as worries piled up over Britain's Brexit decision. Spot gold traded at around 1,373 U.S. dollars per ounce, the highest since March 2014, while crude and Brent oil both dropped about half a percent from Tuesday. 

That came as copper moved away from a two-month high and Chinese commodities led by agriculture and iron ore were sold off. Iron ore fell nearly 3 percent on Wednesday to 424.50 yuan a ton in another setback for the glut-stricken market.