Canadian Wealth Managers Less Bullish on Gold
The fading allure of bullion and gold stocks is tied to rising prospects for the global economy, said Howard Atkinson, the president of BetaPro Management Inc, which puts out a quarterly survey on adviser sentiment.
The latest results showed a big drop in expectations for gold following two years of consistently strong sentiment. For the first quarter, 33 percent of advisers said they were bullion bulls, down from 64 percent in the fourth quarter.
Bullishness toward the S&P/TSX Global Gold Index fell to 33 percent from 64 percent. The index rose more than 25 percent last year.
Gold is what…3% off its high? Quite the fading allure.
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