The team running J.P. Morgan Asset Management's natural resources fund has said the gold price is unlikely to surge ahead from current levels, as US monetary policy and a strengthening dollar continue to weigh on sentiment.
The price of gold has been in a prolonged downturn for the past three years, tumbling from $1,900 to a low just above $1,200 by December 2013. A slight rebound since then has seen it reach a current price of $1,281. But the combination of a strong dollar and the view that the precious metal is no longer a reliable safe haven means gold remains fairly directionless for now. James Sutton, client portfolio manager on the JPM Natural Resources Fund headed by Neil Gregson, said the price is unlikely to spike from its current level in the foreseeable future as the US economy continues to re...
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