Schroder Investment Management and UBS Global Wealth Management are directing more focus toward gold as they look to hedge against geopolitical uncertainty and high government spending in the United States posing sovereign debt risks, reported Tania Chen for Bloomberg.
The U.S. budget deficit has also led some investors to feel more bearish about bonds, further increasing the attractiveness of gold to certain investors.
Chen cited a report from the World Gold Council showing that 20 central banks are expecting to raise their holdings of the metal.
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