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‘Gold is not a very good hedge against anything’ and should be viewed as ‘an investment asset’ – JP Morgan’s Hui
Gold’s dramatic selloff during the Iran war has weakened its status as a defensive hedge in investor portfolios, and investors should instead treat gold as an investment asset, according to Tai Hui, chief market strategist, Asia Pacific at JP Morgan Asset Management. Hui said during a media briefing on Thursday that “gold did not work as a hedge against geopolitics.” “We’ve been arguing for quite some time that gold is not a very good hedge against anything,” Hui said. “If you look at its correlation with equities or risk assets, it’s not very consistent.” In the 20 days since the attacks on Iran ... (full story)