Why you should not write off gold - Henderson's McQuaker

Henderson Global Investors' head of multi-asset Bill McQuaker has urged investors not to write off gold despite the recent slump in the price of the precious metal.

The safe-haven trade has unwound around the world in the last 12 months as investors move to capture gains in equity markets which are at or near record highs. Gold has been impacted as part of this, having been used by many investors to fund a move into shares, and as a result it has retreated from peaks of around $1,790 in October to as low as $1,348. It currently trades at $1,402, and is showing little sign of recovering further as investors focus on buying into the equity market rally. However McQuaker, running a number of multi-asset and multi-manager funds, said investors sho...