How safe are safe havens
2011 was a difficult year for investors, but more so because of the sizeable macro risks that had to be considered rather than the impact of negative returns.
2011 was a difficult year for investors, but more so because of the sizeable macro risks that had to be considered rather than the impact of negative returns.
Commodity managers struggled to even keep up with their benchmarks last year, says Amandine Thierree, yet they are keeping their allocations unchanged, describing 2011 as “just a phase”.
Source has listed its Physical Gold P-ETC in sterling on the London Stock Exchange, complementing the dollar listing it already has on the UK’s exchange.
Portraying gold as a risk diversifier in investors’ portfolios is dangerous, according to Gary Reynolds, director and chief investment officer at Courtiers.
Gold ETP inflows surged to their highest level in over two months last week as price declines in the safe haven attracted investors.
Investor demand for direct commodities is rising but managers favour the equities on valuation.
Bonds are falling out of favour with European investors as debt fears sink deeper.
Goldman Sachs has upped its 12-month forecast, saying it will hit push $1,900 an ounce in 12 months.
Gold prices fell sharply overnight but things may change after tomorrows Jackson Hole conference.
Conditions remain positive for ongoing strength in the gold price depite its recent rapid ascent.
European-listed ETFs bought up gold in Q2 as they search for a haven away from the debt crisis.
Rathbones’ David Coombs has been buying gold for his multi-asset portfolios.