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"Investors will start to return to real assets like gold" as fiscal debate heats back up - Wealth Managers

February 05,2013


Hennion & Walsh exec says bullion "deserves a place in most investors' portfolios"

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"I think [gold] deserves a place in most investors' portfolios," Hennion & Walsh Asset Management president Kevin Mahn tells The Wall Street Journal in a Feb. 5 interview.

"Traditionally people looked at gold as an inflation hedge. In an environment where we don't have much inflation, people have pulled back from their gold holdings. But you know what else gold can also serve a purpose? In being a volatility dampener. It used to be when equity markets got volatile, as we saw yesterday, investors flew to safety -- Treasury bills. Treasuries used to be known as risk-free return. Now they're perhaps more know as return-free risk. And that risk is going to continue to creep up as we get closer and closer to round two of the fiscal cliff debates dealing with spending cuts and a potential sequestration. So as that happens and markets start to get choppier, investors will start to return to real assets like gold. ...

"If in fact Congress can't get together and deal with making real, meaningful fiscal constraints and putting in spending cuts, you could see the ratings agencies put another knock on U.S. Treasuries. If that happens, you could see gold start to go up in price. But if you're fearful about gold and its volatility ... Look at other precious metals. ... Maybe some blended element of both gold and silver is more appropriate."



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