AAA-rated manager buys gold for first time in seven years

“Citywire AAA-rated David Coombs has added gold to his multi-asset funds for the first time in seven years. . .

‘We are buying it because the UK is very vulnerable to recession. We bought this before the gilts sold off and we are loathed to buy long-duration gilts or index-linked bonds to help us mitigate economic risk. We feel that gold is a good diversifier for us.'”

USAGOLD note:  Note that Coombs is buying gold as a recession hedge.

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