UBS cuts gold targets ahead of September FOMC meeting
UBS has cut its short term price target for gold 13%, citing a particularly challenging macro environment.
UBS has cut its short term price target for gold 13%, citing a particularly challenging macro environment.
Gold and precious metals funds saw $1.1bn of outflows over the past week, according to Bank of America Merrill Lynch.
Gold fell through the psychological $1,100 per ounce level on Monday as prices plunged more than 4% in morning trade.
Leeds-based discretionary Andrews Gwynne has upped its alternative ‘independent strategies’ weighting by a further 4% to 28% in its AG Portfolio, while also maintaining 19% in cash.
The events of recent weeks could lead investors to draw a stark conclusion; there is no such thing as a ‘safe haven’ in investment terms any more.
Gold is set to benefit from a continuation of global quantitative easing, says Thomas Miller Investment, prompting the manager to consider branching out into a market that it would traditionally avoid.
Jason Broomer, head of investment at Square Mile Investment Consulting & Research, examines the ways in which investors can safeguard against periods of inflation.
Golds use as a macro-economic barometer is set to increase, say UBS commodities analysts Edel Tully and Joni Teves.
Gold and oil ETPs are seeing the longest stretch of consecutive positive flows since October 2012 with $35bn of new money coming in last week, according to ETF Securities.
After a tough few years miners are doing better this year, but just how sustainable is the turn depends on where you are looking.
According to Threadneedles Nicolas Robin improving developed markets and structural shifts mean commodities are increasingly back on investors radar screens.
A look back at the first six months of 2014, reveals some interesting trends and raises a few flags of caution.