Top managers expect further gold gains

Long-term gold investors John Chatfeild-Roberts and Ian Henderson have positioned their funds to benefit from further highs in the price of the precious metal.

Jupiter CIO Chatfeild-Roberts says the gold price is likely to be pushed higher by inflation and a drop in production. It has already risen 18% this year, and recently hit a series of all-time highs, peaking at $1,300/oz last week. “Gold is nowhere near the price it achieved in 1979 and the tremendous monetary and fiscal stimulus will lead to inflation in the long run,” the manager says. “Demand for gold as a hedge against inflation is rising from retail investors, central banks in emerging markets, and institutions. At the same time, the  rate of growth in production is declining so ...