Gold has rallied 11% this year, holding above $2,300 an ounce. New research shows increasing interest from money managers and hedge funds. According to a survey by State Street Global Advisors and the World Gold Council, 29% of North American financial advisors plan to increase gold allocations in the next 12-18 months, while 62% will keep them the same. Chief Gold Strategist George Milling-Stanley forecasts gold trading between $2,200 and $2,300 an ounce in the second half of the year.
The survey highlights gold's growing role as a safe-haven asset and a diversification tool, with nearly 90% of advisors now allocating some assets to gold, though most hold less than 5%. Despite its appeal, some avoid gold due to its lack of dividends and perceived speculative nature.
Sources:
Neils Christensen,29% of North American financial advisors to increase gold allocation through 2025 - State Street-World Gold Council, June 26, 2024
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