Ruffer trust ups gold exposure on QE hopes

Managers of the £276m Ruffer Investment Company have increased their exposure to gold on hopes global central banks will act soon to collectively expand their balance sheets.

In a recent note, the trust managers Hamish Baillie and Steve Russell warned investors of a "fretful summer" as they juggle nerves over a lack of global economic growth, together with hopes central banks will take action soon, while at the same time trying not to miss out on any potential gains. However, they are hopeful that the "tantalising signs" given recently by the European Central Bank and the US Federal Reserve indicate the "cavalry" is set to arrive with further QE boost, so they have added to their position in gold. "In view of the growing liklihood of further worldwide cen...