Commodities markets react to UK's Brexit vote

LONDON (Reuters) - Oil and copper prices fell sharply and gold rallied on Friday as commodities markets reacted to Britain's vote to leave the European Union.

Here are the views of economists and analysts on the outlook for markets:

JAMES BUTTERFILL, HEAD OF RESEARCH & INVESTMENT STRATEGY, ETF SECURITIES:

"Gold could rise to $1,400 whilst other precious metals such as platinum offer attractive fundamentals."

BJARNE SCHIELDROP, MARKETS CHIEF COMMODITIES ANALYST, SEB:

"Our view is that we have not yet seen the low oil price of the day with Brent likely to trade down towards $45 or lower before we have seen the worst of it."

"We solidly stick to our view that the Brexit sell-off is a great buying opportunity and maybe the last great buying opportunity in this cycle. Important to note is that our 'buy oil on Brexit sell-off' is resonated by quite a few other banks as well, so an endured buying opportunity at low levels is unlikely."

JONATHAN LOYNES, CHIEF EUROPEAN ECONOMIST, CAPITAL ECONOMICS:

"We maintain the view that the ultimate damage will be rather smaller than some of the more pessimistic projections have suggested."

"The Bank of England's Monetary Policy Committee is likely to look through the inflationary consequences of the drop in the pound and either keep policy very loose for longer or loosen it further. A cut in interest rates and an expansion of the Bank's quantitative easing programme are both possible, as well as co-ordinated action with other central banks to maintain liquidity and smooth currency movements."

(Reporting by Christopher Johnson; editing by Jason Neely)