Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

NAB’s Calibre Asset Reduces Exposure After Gold ‘Disappointed’

May 28 (Bloomberg) -- Gold hasn’t been able to deliver as a haven in the past few months, said Norman Chan, head of investment at Calibre Asset Management Ltd., a unit of National Australia Bank Ltd. Bullion is set for its fourth monthly decline in May, the longest losing run since 1999. He spoke in a Bloomberg television interview in Hong Kong today.

On gold holdings:

“We have reduced gold and increased our exposure in fixed income mostly because gold has disappointed us in May. On top of that, it has not been able to deliver a safe-asset nature, dropping along with the equity market, so we think that confirms the fundamental supply-demand deterioration in gold and we have to cut.”

To contact the reporter on this story: Glenys Sim in Singapore at

To contact the editor responsible for this story: James Poole at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.