Gold “Insurance Policy” and Deserves a Place in Portfolios – Carmignac

Gold has a place in high-net worth individuals portfolios as an insurance policy against systemic risk in the banking system, says Carmignac commodity investor Michael Hulme.

EW: Hello, and welcome to Morningstar series, “Why Should I Invest With You?” I’m Emma Wall and I’m joined today by Carmignac’s Michael Hulme. Hi, Michael.

MH: Hi Emma

EW: So, we’re here today to talk about commodities. That’s your bag. I thought we’d start with that headline grabbing commodity, gold. Gold has hit the headlines this week because $2.3 billion worth of gold ETFs have been sold as gold hit a five-year low. How much further can gold can go and should we care?

MH: Very interesting question. Yes, gold has certainly lost some of its luster recently and I guess, many people are asking the question, is it foolish to invest in gold?

I think gold still has a place in portfolios. I think gold, in particular, has a place in high net worth individuals portfolios and I think there were several reasons for that. Gold is really an insurance policy against systemic risk in the financial system now.

Read transcript and watch video on GoldCore.com

DAILY PRICES
Today’s Gold Prices: USD 1134.40, EUR 724.63 and GBP 990.05 per ounce
Yesterday’s Gold Prices:  USD 1,154.25, EUR 999.35 and GBP 730.56 per ounce.
(LBMA AM)

BREAKING NEWS

Gold prices consolidate but currency weakness may provide support – The Bullion Desk
Precious-Metals Trading Is Probed by EU After U.S. Inquiry – Bloomberg
Dow, S&P close lower in biggest reversal since Oct. 08 – CNBC
Mood Getting Worse on Wall Street as S&P 500 Floor Eludes Bulls – Bloomberg
World shares sag as China jitters persist – Reuters

IMPORTANT COMMENTARY

Gold a ‘Buy’ says Barrat – Bloomberg Video
Gold Facts and Gold Speculations – GoldSeek
Donald Trump, Fascist – Daily Reckoning
The cronies are on the run – MoneyWeek
Chinese alarm over? No, this is merely a pause in an ongoing debt crisis – The Telegraph

Click on News and Commentary on GoldCore.com

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