Začína sa obdobie oslabovania PMs?

Národná banka Kanady upozorňuje investorov na slabnúcu silu býčieho trendu žltého kovu. S oživovaním globálnej ekonomiky by zlato malo oslabovať. Dolár javí známky stabilizácie a môže opätovne začať posilňovať.

However, despite the recent rally that propelled the price of gold to new heights, National Bank said it appears more and more clear that the time has come to revise investors’ position.

Weak US dollar has been a major driver of this year’s surge in the price of gold. However, the currency has recently been showing signs of stabilizing, and could be about to turn upward, National Bank said.

Following up with a research note, the bank said investors who dared place some of their eggs in gold in recent years have been nicely rewarded for what they did. However, the time has come now to revise their positions as signs of a global economic recovery start to emerge.

Headwinds are building against the price of gold. Risk aversion is gradually returning to pre-crisis levels and inflation fears should abate.

If the past 30 years are any indication, gold does not constitute an attractive investment over the long term. Moreover, in times of economic recovery, the return on gold falls well short of the return on the stock market.

Článok:www.commodityonline.com/news/Gold-sparkles-no-more-for-investors-21516-3-1.html

30.09.2009