State Street Global Advisors' George Milling-Stanley, whose firm runs the world's largest gold ETF, gives his bull case for the precious metal.
, the world's largest physically backed gold ETF. It has a total asset value of more than $57 billion as of last week, according to the company's website. The ETF is up 7% year to date as of Friday's market close.
"Gold is a hedge against inflation. Gold's a hedge against potential weakness in the equity market. Gold's a hedge against potential weakness in the dollar," he noted. "To me, historically, the promise of gold for investors has … overtime [helped] to enhance the returns of a properly balanced portfolio."
"It's pretty clear that we're liable to be in a period of slow growth. … Historically, gold has always done well during periods of slower growth," Milling-Stanley said.
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