Thursday, 12 September 2013

PNL Personal Assets Trust - some guidance on why I own gold

There were two views on the gold price dropping down today (PHGP down 2.5%):

- on the one hand the gold bugs point to a 'paper-based' assault on the gold price last night:

- on the other hand the gold doubters point to the increasing likelihood of the Federal Reserve tapering off its quantitative easing. In this BullionVault piece analysts suspect more price falls with little chance of this being offset by Indian Jewellery buying or inflation picking up

Sebastian Lyon at Personal Assets Trust (PNL) said in an interim management statement (August 16):