JPM's Neil Gregson has called the bottom of the market for gold mining stocks, especially small caps, tipping them to pick up against bullion as investors look to add risk to their portfolios.
Gold prices took a nose dive overnight as investors u-turned on risk assets ahead of an expected round of further stimulus in the US, leaving the price more than $160 lower.
Brent crude fell back sharply towards $100 overnight as the Libyan uprising moved closer to its conclusion.
Walker Crips managers Steve Bailey and Jan Luthman have cut exposure to gold ETFs by 20% deeming it a ‘crowded trade'.
BlackRock's Evy Hambro, manager of the £2.8bn Gold & General fund, said gold should be trading about 30% above its current record high, taking inflation into account.
Gold has hit fresh high upon fresh high in recent weeks as investors flee rollercoaster markets in search of a ‘safe haven.'
President Barack Obama has announced a deal to end the US debt crisis, which will raise the nation's debt ceiling by at least $2.1trn and cut the federal deficit by as much as $2.5trn over a decade.
T1ps Investment Management (TIM) is set to launch the Elite t1ps India Fund, an equities-focused unit trust, on 1 August.