JPM's Gregson: The headwinds and tailwinds for gold

GOLD

J.P. Morgan Asset Management's Neil Gregson, who will take over the £2bn Natural Resources fund next year, said investors "have to be alert" to the future direction of the gold price despite renewed eurozone fears prompting a recent rally.

Gregson, currently co-manager of the Natural Resources fund with Ian Henderson and manager of the Global Mining fund, said gold’s bull market had been confirmed now the spot price is rising against all major currencies including the yen and the Swiss franc. But he warned investors should pay particular attention to where prices may move in the future. Having started the year at $1,420 per troy ounce, the gold price hit an intraday record high of $1,920 on 6 September before shedding 20% of its value later in the month. But after touching a low of $1,534 on 26 September, gold has ...