Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
Fidelity International Optimistic About Gold Outlook, Ready to Buy Again on 5% Price Correction
Recommend 0 Positive 1 Negative 2 |
||||
|
||||
|
George Efstathopoulos, a portfolio manager at Fidelity International, said that, a few days before gold prices experienced largest drop in 40 years, he reduced the proportion of gold in his asset portfolio from about 5% to approx. 3%. However, he emphasized that, if gold prices pull back by another 5% or 7%, he would buy again, as many market bubbles have already dissipated, and medium-term structural factors are very mature, believing that gold prices will continue to rise. Today (4th), spot gold returned to the US$5,000 mark, and last ballooned 2.42% to US$5,066.52 per ounce, but still down nearly 10% from the new all-time high of US$5,595.47 on 29 January. AASTOCKS Financial News Website: www.aastocks.com |
||||
Copied to Clipboard
 |
||||
