Investment Commentary: First half 2014

Published 14th July 2014

Categories: Investment

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Our Investment Commentary explores the main macroeconomic drivers behind gold’s price performance.

This latest edition examines gold’s performance during the first half of 2014 and focuses on two trends that, in our view, support adding gold to portfolios as a means of protection and risk management:

  • The record issuance of lower-rated bonds across markets
  • The historically low volatility environment.