Gold

J.P. Morgan Asset Management's Neil Gregson has taken his exposure to gold miners to a historic low of 15% as the sector continues to suffer a torrid period of underperformance.

Hedge funds have heavily upped exposure to gold in recent weeks, viewing the metal's poor relative performance year-to-date as a buying opportunity.

Iain Stewart, manager of the £7.9bn Newton Real Return fund, has added to his gold holdings in the belief the precious metal can still act as a hedging tool in investors' portfolios.

Morningstar has revealed the ten most popular exchange-traded funds (ETFs) in the second quarter of 2013, based on the most searched for funds on its website.

CONTRARIAN

Japanese investors have reacted with muted enthusiasm to a sweeping election victory by Shinzo Abe's Liberal Democratic Party.

Ben Bernanke, the chairman of the Federal Reserve, has said he does not understand gold prices or why investors hold it during certain economic environments.

Hedge fund manager John Paulson's gold fund has posted its third successive double-digit monthly loss and now stands down 65% this year, according to reports.

A tumultuous June may have taken the edge off many of the sizeable gains made by funds in the first half of 2013, but it was not enough to derail performance completely.

The price of gold has continued its decline, falling below the $1,200 mark on Thursday for the first time since August 2010.