Is gold becoming tarnished?

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Julian Chillingworth, CIO at Rathbone Unit Trust Management, examines whether gold really is the answer to investors' prayers.

For years now, investors have taken for granted the ability of gold to preserve wealth. In doing so, they have relied heavily on certain correlations: the correlation between gold and inflation; between gold and the dollar; between gold and debt-deflation. All things considered, gold has become a bit of an all-round investment hero, but the pending bout of quantitative easing is forcing many to re-evaluate its place; its true worth in a portfolio. Indeed, there is a growing consensus that gold no longer offers the (relative) safety it once did. There are many reasons why gold remains ...

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