Gold and silver topped Bloomberg‘s list of the best returns of all commodities in the past five years when adjusted for volatility. Leading the Bloomberg Riskless Return Ranking was gold, which produced a 6.5 percent risk-adjusted return, followed by silver at 3.1 percent. The total-return index for all raw materials was 0.2 percent.
The article quotes UniCredit SpA analyst Jochen Hitzfeld, described as “the most accurate precious-metals forecaster tracked by Bloomberg in the past two years,” as saying that “People are still very under-invested in gold, and so there is a huge scope of that increasing.” Last week Bloomberg reported Hitzfeld’s prediction that “Gold will average $1,800 an ounce this year, and rise even more next year on investor and central bank demand.”
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