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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