Gold prices have risen sharply since the early part of the decade, frequently cited by wealth managers as a good store of value in volatile times. And yet the yellow metal is still far away from its all-time high in 1980, suggesting there is plenty of upside left, according to UK-based Cheviot Asset Management.
From Wealth Briefing:
Gold prices have risen sharply since the early part of the decade, frequently cited by wealth managers as a good store of value in volatile times. And yet the yellow metal is still far away from its all-time high in 1980, suggesting there is plenty of upside left, according to UK-based Cheviot Asset Management.
Gold hit a record high of around $2,500 per ounce, when measured in 2008 dollars and adjusted for inflation, compared to its level of around $1,700 now when measured on the same basis, Cheviot says in a note by Ned Naylor-Leyland, a portfolio advisor.
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Fears that central banks have printed vast amounts of fresh money, coupled with supply constraints on gold and its attractions as a safe-haven asset, conspire to make this a still attractive asset, Mr Naylor-Leyland says.
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