[miningmx.com] – SUPPORT was seen returning for gold-backed exchange traded funds (ETFs) amid increasing uncertainty regarding inflation and political troubles especially in the Middle East, said Evy Hambro, manager of Blackrock’s World Mining Fund.
In an interview with Bloomberg, Hambro said that the physical market had been supportive of gold during its price correction of the past 18 months but there had been uncertainty regarding the monetary side of gold.
Now, however, political developments and inflationary worries would see new support for gold investment. “That’s what we are picking up,” said Hambro. Uncertainty could be deflation, inflation or political, he said.
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