It seems like every day this year another investment manager comes out as bullish on gold for 2019. Today it’s BlackRock’s Global Allocation Fund manager who indicated he has been increasing his fund’s gold allocation since the third quarter. Unlike some others, Russ Koesterich does not give a target price for gold in 2019, rather indicating gold is playing a hedging role in his portfolio plans.
So far that seems to be a good plan, as gold rose while equity markets fell in Q4. Gold calls backed off from 8-month highs this morning, so we’ll see if bullishness diminishes this week. Today’s featured article gives some details as to why Koesterich thinks gold deserves a bigger place in his portfolio – reasons which may sound all too familiar.