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Gold’s attraction continues

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Assad Abdulla, Director at Signia Wealth comments that gold continues to see interest from investors across the spectrum. “Short term flows into gold ETPs have been strong,” he says. “Last Friday’s daily report from ETF securities showed inflows into gold ETPs of USD263 million, this was the highest figure since inception. 

“With potential outcomes for inflation, currency and financial markets seemingly more extreme now than at any point since the end of the Second World War, gold is an attractive investment. Brexit appears to be the first time that populist / anti-establishment views in developed economies (via the likes of Trump, Sanders, Corbyn, Le Pen et al) have translated into an actual establishment-rattling political outcome. This increases fears over future political disruption, particularly of a domino effect through the EU. Heightened populism, and policymaker fear of it, also raises the probability of a more populist economic policy response.
 
“Discussions around direct fiscal stimulus have moved from being borderline fantasy, to a policy response which is being seriously tabled by some policymakers. This adds to uncertainty around geopolitical and inflation outcomes, thereby increasing portfolio hedge allocations to assets such as gold. The continuation / extension of unconventional monetary policy by central banks as well as fears surrounding global growth continue to be at the forefront of investors’ minds, thus making gold an attractive proposition in terms of overall portfolio composition.”
 
Abdulla concludes: “Finally, some analysts are calling for the end of the USD bull run that began in 2011 which is another positive for gold.”

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