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Investors go for gold, a safe haven amid Trump uncertainty
US President's lack of specifics on his spending plans might undercut value of dollar and raise gold prices
Published Wed, Feb 1, 2017 · 09:50 PM
New York
SOME of Wall Street's largest fund managers have taken a contrarian bet on gold, wagering that the combination of US President Donald Trump's governing style and upcoming elections in Europe will create more stock market volatility and boost the prices of a metal long seen as a safe haven.
Fund managers from IVA, Ridgeworth and Fidelity are among those who are bullish on gold at a time when the VIX, Wall Street's main measure of volatility, is near two-year lows amid a stock market rally that has pushed the S&P 500 up 6.5 per cent since Election Day in November.
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