Threadneedle Keeps Bullish Gold Outlook on Stimulus Programs

The outlook for gold, which tumbled into a bear market last month, remains bullish as central banks stick with printing money to weaken their currencies and revive growth, according to Threadneedle Investments.

The London-based fund has not changed its positioning in gold after the slump, according to David Donora, a fund manager for commodities at Threadneedle, which managed 84 billion pounds ($131 billion) in assets, including equities and fixed income, as of March 31. Their top pick is oil-based energy such as Brent crude, gasoline, gasoil and heating oil, Donora said.