Gold Is Still Relevant as Insurance Policy, Franklin’s Land Says
This article is for subscribers only.
At a time when gold is in a bear market amid record outflows from investor holdings, bullion remains relevant in portfolios as inflation may accelerate, the U.S. dollar weaken and global economic growth stall, according to Franklin Templeton Investments.
“As part of an overall diversified portfolio, gold does serve a role because some of these things are still real risks as we look forward over the next 12 months,” said Steve Land, lead portfolio manager at the firm’s Franklin Gold and Precious Metals Fund, which has over $1.34 billion in assets under management. He spoke by phone from San Mateo, California.