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Gold and silver
09 Aug 2017 | By Ned Naylor-Leyland

Will North Korea be the catalyst for a new bull market in gold?

Gold and silver prices jumped as the President Trump/ North Korea stand-off escalated.

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Gold and silver prices jumped as the President Trump/ North Korea stand-off escalated. While the two monetary metals continue to trade mostly on real yield dynamics, some investors reacted to the escalating tension by buying these traditional safe-haven instruments.  In the event that war should break out, and that leads to an acceptance of further loose monetary and fiscal policy in the US, we would expect a falling US dollar real yield environment, giving renewed, and sustainable, impetus to monetary metals prices. Institutional investors appear to be, once again, considering an allocation to gold.  Current institutional allocations are at their lowest, relative to historic levels. Should they start re-allocating, we believe a big move in global gold prices will inevitably ensue. Gold, of course, is already a core asset class for central banks, the super-rich and what are classified as ‘the global poor.’ Should the North Korea situation develop it may just prove to be the catalyst to push the institutional world to commit flows back to this asset class on a sustained basis.

01 Nov 2018 | By Ned Naylor-Leyland
Trade Wars and Gold

Weighing what US trade wars mean for gold

15 May 2018 | By Ned Naylor-Leyland
Real interest rates are the real drivers of the gold price

Ned Naylor-Leyland, manager of the Old Mutual Gold & Silver Fund, reminds investors that as long as real US interest rates are trading in a nar...

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10 years after last rate hike, BoE grapples with inflation mandate

05 Jul 2017 | By Mark Nash

It has now been 10 years since the Bank of England (BoE) last hiked interest rates, the longest pause in such action since World War Two.

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