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Traders: Betting on 'Brexit,' what to trade if Britain leaves

The "Fast Money" traders weighed their "Brexit" playbooks, after a Monday poll revealed that support for Britain leaving the European Union has grown.

Fifty-three percent of respondents now favor a British exit from the EU, according to a poll released by The Guardian and ICM. Commodities investor and CNBC contributor Dennis Gartman told CNBC that a vote to leave would put pressure on the sterling and other European currencies, while a vote to stay could lead to gold trading lower.

In an environment where it's hard for traders predict what's going to happen, Trader Steve Grasso said it's best to "stick with what's working." Grasso likes the VanEck Vectors Gold Miners ETF, which is up nearly 89 percent in 2016.

"I'm using the outperformance of the GDX. I think it goes higher in any market. It may back up a little bit, but ultimately the trade is higher," he said.

Trader Guy Adami agreed, saying that the fundamentals of the gold rally aren't predicated on "Brexit" fears.

"[The rally] started when the Japanese went to negative interest rate policy. That's not going away any time soon. I think as long as rates stay lower, gold goes higher," he said.

Trader Tim Seymour said investors need to pay more attention to the periphery like the iShares MSCI Spain Capped ETF and iShares MSCI Italy Capped ETF.

"Spreads were widening today in the 10-year in those two parts of the world when, today, everywhere else was seeing yields plunge," he said.

Disclosures:

Guy Adami

Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.

Karen Finerman

Karen is long BAC, C, DRII, DRII calls, FB, FL, GOOG, GOOGL, JPM, LYV, KORS, KORS, KORS puts, WIFI long call spreads, M, MA, SEDG, SPY puts, URI. Her firm is long ANTM, AAPL, BAC, C, C calls, DRII, DRII calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, KORS puts, LYV, M, MOH, PLCE, SPY puts, URI, WIFI, her firm is short IWM, MDY. Karen Finerman is on the board of GrafTech International.

Steve Grasso

BA CC EVGN KBH MJNA MU OLN PFE PHM T TWTR UA GDX KIDS own EFA EFG EWJ IJR SPY. Grasso currently has no short positions. Stuart Frankel & Co Inc. and some of its Partners: AAPL TOL UAL WHR LDP WDR AVP CVX FCX IBM ICE KDUS KO MAT MCD MJNA NE NEM OLN OXY RIG STAG TAXI TEX TITXF URI VALE WDR WYNN ZNGA CUBA HSPO ICE AMZN MJNA TITXF NXTD.

Tim Seymour

Tim Seymour is long AVP, BAC, BBRY, CLF, DO, EDC, EWZ, F, FCX, FXI, GM, GOOGL, GRMN, GE, GLNCY, INTC, LQD, M, MCD, MPEL, NKE, RACE, RAI, RH, RL, SINA, T, TWTR, UA, VALE, VZ, XOM. Tim's firm is long ABX, BABA, BIDU, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, YHOO, short HYG, IWM, WYNN, XRT.