Gold to Outperform Dow Index on ‘Fear Trade,’ SICA Wealth Says
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Gold will outperform the Dow Jones Industrial Average this quarter, after trailing the equity index in late 2011, as Iranian tensions and European debt woes mount, said Jeffrey Sica, the president of SICA Wealth Management.
Gold may jump 10 percent in the three months ending March 31 as the stock gauge drops, Sica, who helps oversee $1 billion, said yesterday in a telephone interview from Morristown, New Jersey. Last quarter, gold fell 3.4 percent, snapping a rally since late 2008, while the Dow index rose 12 percent.