Gold sees largest decline in more than two years.
M2 EQUITYBITES-August 18, 2015-Gold sees largest decline in more than two years
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Lloyds Bank, part of the British government backed lender Lloyds Banking Group (LSE:LLOY), on Monday reported that Gold has seen its largest decline in sentiment in more than two years.
According to the Lloyds Bank Private Banking Investor Sentiment Index, August saw the largest drop in sentiment towards gold since May 2013. Net investor sentiment for the asset class fell by 24 percentage points from the previous month and 13 percentage points from the same month of last year to 11%.
The significant drop in Gold has witnessed a fall from the second strongest asset class in July 2015 to the fifth weakest in August 2015.
In August all sterling-denominated asset classes displayed their strongest sentiment since the survey began. Actual market performance showed declines in only two out of ten asset classes, including Commodities and Gold.
Head of Portfolio Speacialists at Lloyds Bank Private Banking, Ashish Misra, said "While we would expect to see Gold do well in times of volatility, investors have generally held their nerve and reached out to other asset classes for returns. In addition, with the price of Gold falling to a five year low last month, the potential long-term outlook for Gold is modest."
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|Publication:||M2 EquityBites (EQB)|
|Date:||Aug 18, 2015|
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