Fund managers’ ardour for gold cools as fears recede
Not everyone is convinced. In a note produced last month, which preceded a $40 drop in the gold price, HSBC Asset Allocation said that it preferred treasury inflation-protected securities as an inflation hedge. “If you get inflation, provided you get a monetary response to it (in the form of) higher interest rates, that is the death knell for gold,” JP Morgan's Gregson said.
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