Billionaire investor George Soros has piled more of his $30bn fund into gold as UK government borrowing costs fell to a record low amid concerns about global growth.

Mr Soros also warned that if Britain voted to leave the EU on June 23 it would mark the end of the European project.

"If Britain leaves, it could unleash a general exodus, and the disintegration of the European Union will become practically unavoidable," he said.

UK benchmark gilt yields fell to 1.218pc, the lowest on record, while German 10-year bund yields also dropped to a fresh low of 0.0234pc as growth jitters pushed investors towards low-risk sovereign debt.

The flight to safety ended a week-long rally for global stocks and commodities as investors reassessed the global outlook. Gold prices climbed while oil fell more than 1pc.