Bloomberg called the gold key assets 2016


The Agency notes that the SPDR Gold Shares attracted from the beginning of the year to $4.5 billion, which is the highest rate among all the funds traded on the American stock exchange. The experts Bloomberg noted the reversal in the attitudes of the investors, because in December the price of gold was at its lowest level for the last five years.

“Gold is the most interesting theme this year,” said Bloomberg Fund Manager USAA Precious Metals & Minerals. “Last summer was called gold a barbaric relic, and now it is being bought more and more,” he added.

Since the end of January the price of gold rose by 9.3%, reaching $1220 per ounce. This is the largest increase in February since 1979. Bloomberg notes that the fastest growing world currency — the yen — has risen in price by 5.5%.

The interest in gold had been exposed by the downturn in the global economy. Investors ‘ concerns that the problems will affect the United States, forced them to seek protection of capital.

The experts had different opinions on the prospects of gold. According to Barnabas Ghana from Oversea-Chinese Banking Corp., by the end of the year the value of an ounce could reach $ 1400, however this will only happen in the event of escalating concerns about the future of the world economy. However, Gan does not exclude that the price will revert to $1000-1150 / oz in the case of a rate hike by the fed.

The fall in the gold price is also expected to Societe Generale SA and Goldman Sachs Group Inc., experts which consider that the interest in gold will wane, since such investments do not yield dividends.