Gold's conventional role as a portfolio risk management tool has been brought into question following a dramatic six-week period for commodity prices, according to Morgan Stanley — but its analysts see value elsewhere. The value of the precious yellow metal plummeted alongside most global asset classes at the outbreak of the Iran conflict. Gold remains roughly 7.8% down over the last month at $4,7...
Gold's conventional role as a portfolio risk management tool has been brought into question following a dramatic six-week period for commodity prices, according to Morgan Stanley — but its analysts see value elsewhere. The value of the precious yellow metal plummeted alongside most global asset classes at the outbreak of the Iran conflict. Gold remains roughly 7.8% down over the last month at $4,731.775 as of 6:02 a.m. ET on Thursday after a ceasefire-induced rally. "Gold is really acting like a risk asset and not really like a safe haven," Amy Gower, metals and mining strategist at Morgan Stanley, told CNBC's "Squawk Box Europe" on Wednesday. "Normally, it should be a diversifier in your portfolio, and that's just not really been happening at the moment." Gower conceded it is "normal to see a bit of weakness in gold" after a shock, as investors rush for liquidity, but she noted that prices are increasingly vulnerable to trades from large holders like central banks and ETFs. By contrast, silver "has had real reasons to rally" according to Gower, with the metal having added almost 150% over the last 12 months. "You had multiple years of [supply] deficits, and in precious metals, these deficits can stay hidden for a little while. When the financial element of that trade came through last year, there just wasn't enough to go around," she said. "The solar story has also been a big part of this, [with a] huge explosion in silver usage." However, silver has fallen more than 11% over the last month and, at its current spot price of around $74 per troy ounce, it is well below the peak of above $100 seen in January. The move above $100 that we saw in January felt harder to explain on fundamentals alone; that is where that speculative element comes in, Gower said. "But what we are seeing is some real demand shifts now. Some of the large silver jewelry producers are looking to move away from silver towards things like platinum-coated jewelry. Price and volatility is driving a ...
Franklin Templeton Co-President and Chief Commercial Officer Daniel Gamba says the asset manager has seen strong inflows into country-specific ETF products such as those in Korea. Speaking to ETF IQ Asia, he says he's looking to grow his firm's active and Asia ETF businesses. (Source: Bloomberg)
Franklin Templeton Co-President and Chief Commercial Officer Daniel Gamba says the asset manager has seen strong inflows into country-specific ETF products such as those in Korea. Speaking to ETF IQ Asia, he says he's looking to grow his firm's active and Asia ETF businesses. (Source: Bloomberg)
(RTTNews) - Indian shares opened on a buoyant note on Friday as investors remained hopeful that the ceasefire between the United States and Iran would hold.
(RTTNews) - Indian shares opened on a buoyant note on Friday as investors remained hopeful that the ceasefire between the United States and Iran would hold.
旅發局推出全新宣傳標語「只在香港」，希望藉此推介旅客在香港才找到的獨特體驗。文化體育及旅遊局局長羅淑佩就指地緣局勢下，政府推廣旅遊工作會較審慎。 旅發局向立法會匯報工作計劃，宣布推出新宣傳標語。 旅遊發展局總幹事劉鎮漢說︰「旅發局的策略分為三方面，包括多元、獨特及卓越。全新宣傳標語『ONLY IN HONG KONG，只在香港』以亞洲國際都會作為定位，以感受作為核心，描繪出我們在這座城市才能找到的...
旅發局推出全新宣傳標語「只在香港」，希望藉此推介旅客在香港才找到的獨特體驗。文化體育及旅遊局局長羅淑佩就指地緣局勢下，政府推廣旅遊工作會較審慎。 旅發局向立法會匯報工作計劃，宣布推出新宣傳標語。 旅遊發展局總幹事劉鎮漢說︰「旅發局的策略分為三方面，包括多元、獨特及卓越。全新宣傳標語『ONLY IN HONG KONG，只在香港』以亞洲國際都會作為定位，以感受作為核心，描繪出我們在這座城市才能找到的獨特體驗。」 旅發局預計，今年過夜旅客平均留港日數及人均花費分別3.1晚及5,530元，與去年持平。政府認為在中東局勢等陰霾下，有關預期是樂觀的旅遊指標，政府在推廣工作上也會審慎行事。 文化體育及旅遊局局長羅淑佩稱︰「當然目前中東形勢我們要小心，資源我們預算了， 但何時是最佳時間投放，譬如我現在會不會『拉大隊』組團去中東推廣香港旅遊呢？我相信在這一個階段我們當然要審慎。」 羅淑佩指，政府會繼續大力發展盛事經濟，但新興盛事需要累積經驗；又指未來本港旅遊重點，包括吸引更多海外旅客到港延長其留港時間及發展「一程多站」旅遊，但不會就「一程多站」成效，訂下「硬指標」。