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HSBC cuts gold allocation on outlook for weaker economic growth

Posted on 30 August 2013

HSBC Bank Plc reduced gold’s weighting in its strategic portfolio, citing an outlook for weaker economic growth and slow inflation. HSBC lowered its bullion allocation to 4 percent in its three-year-view portfolio, compared with 7 percent in July, Fredrik Nerbrand, the bank’s London-based global head of asset allocation, said.
It also gave commodities a smaller allotment. HSBC left gold’s weighting unchanged at 5 percent in its six-month-view tactical portfolio………………………………………..Full Article: Source


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