Even gold bulls underestimate 2016 gain which now top most assets

London

EVEN the combined brains of the biggest gold dealers, refiners and investment bankers failed to imagine just how much the precious metal would soar this year.

Two months into 2016, prices have surged past three-quarters of the peak forecasts in a mid-January survey by the London Bullion Market Association, whose members operate in the largest spot market for the metal. Gold has outperformed every commodity this year, as well as most equity and bond markets, after falling for three straight years.