The American investment bank State Street has confirmed that it is pro gold with very bullish sentiment towards the precious metal. Speaking with Bloomberg this week, the bank’s Chief Investment Officer Lori Heinel says that gold is the smart choice right now noting that uncertainty lies around almost every corner thanks to the Russia – Ukraine war and inflation pressures.
She said, “Our view is to be cautious in this environment… be more diversified and hedge your bets. We have gold as it is one of the few diversifiers that has continued to demonstrate value during economic uncertainty. When the equity outlook is uncertain and you have rising bond prices, you just are not going to get that protection from fixed income.”
