“Desire to buy gold as a hedge against the consequences of monetary policy has diminished,” Tom Kendall, an analyst at Credit Suisse Group AG, said in the Bloomberg article. “When you’ve got other asset classes, equities in particular, doing so well, then it’s hard to divert investments out of them and into something like gold, which is falling.”
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Max Chen contributed to this article.
Full disclosure: Tom Lydon’s clients own GLD.