Gold was the asset class representing the best value in Q1, according to the CFA UK's Valuations index, as many investors turned to the commodity amid continued uncertainty and high valuations in the equity and bond markets.
In the survey, which is open to all 11,600 members of the CFA UK, 24% of respondents said gold was undervalued while half said it was fair value. However, more investors thoughts gold was fair value (an increase of 4 percentage points since Q4) while fewer investors thought it was undervalued (a decrease of 4 percentage points on Q4). Gold bullion rose from $1,255 an ounce at the end of Q4 2017 to finish Q1 at $1,318 as geopolitical tensions hit breaking point between Iran and the US following President Donald Trump's decision to withdraw from the nuclear agreement. However, the me...
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