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October 10, 2016

Even gold fund managers advise caution now

  • Don't expect these high returns to continue. Experts say to think of gold as a type of insurance, and make it just a small part of your portfolio, maybe 5 percent.
    • By STAN CHOE
    AP Business Writer

    NEW YORK — Gold has gone gangbusters this year, rising with jitters about everything from a weak global economy to the possibility of a President Trump.

    After gold's best first-half of a year since 1980, gold-related funds are piled atop the leaderboard for returns. The average fund that invests in stocks of gold miners has returned more than 70 percent in 2016, for example. Such glittering performance has drawn even more investors, and nearly $21 billion has poured into funds that buy either gold bars or the stocks of mining companies in the year to date through August, according to Morningstar. In 2015 investors pulled $2 billion out of those same funds.


     
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