A gold rush has gripped Monaco. All but one of the fund selectors our researcher interviewed when she visited the principality recently, said they are either sure they will buy more gold or will seriously consider the opportunity.
Old Mutual Global Investors said it intends to launch the Old Mutual Gold and Silver Fund next month.
The strong rise in precious metals prices seen last month has sparked a bout of profit taking, with gold and silver investors selling and buyer numbers falling, according to BullionVault.
Given how many clouds there are around at the moment, silver linings are pretty hard to come by.
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.
