View more on these topics

Oil and commodities hit as gold soars

The price of gold hit record highs this week as investors continued to search for safety in the midst of the market turmoil.

The price of gold opened at $1,721 per ounce on Tuesday before surging to $1,779.

The price of Brent crude oil dipped below $100 per barrel for the first time since February 2011.

Commodity markets, including oil, saw sell-offs owing to concerns about a slowdown in global economic growth.

Markets opened at $103.15 for Brent crude oil on Tuesday, then dropped to $98.74, before rising to over $104.

Aberdeen co-head of multi-manager Graham Duce says his team remain positive on gold and have recently added a small amount to their portfolios through the BlackRock gold and general fund.

He says: “We feel there is value in gold with mining shares operating at around a 25 per cent discount to gold bullion. The prospect of QE3 is also likely to help the gold price as well.

“Oil has been expected to pull back amid concerns over global economic growth. We feel the growth rate will stabilise but it will not be at the levels it has been.”



Advisers should take pride in selling

Many years ago, I recall attending a sales development course at Royal Life’s training centre near Chester. Our first session kicked off with a debate over titles. The proposed change was from life consultant to broker sales consultant. Several objected to the inclusion of the word sales. These objections did not surface when they spoke […]

Building societies lead innovation march

Building societies have injected fresh innovation into the mortgage market at a time when products tend to be limited to the lower loan-to-value ranges and are offered mainly to those with an impeccable credit history. Last month, Newbury Building Society launched a family offset at 3.95 per cent up to 95 per cent LTV, which […]

Cable wrong to focus on bank lending, says IPPR

Business Secretary Vince Cable is wrong to suggest that increasing bank lending is the top priority in looking to avoid a double dip recession, according to the Institute for Public Policy Research. In an interview with The Sunday Times, Cable said making banks lend again was “the top priority” as this would increase growth and […]

Aegon appoints Simon Skinner as Aegon Ireland chief exec

Aegon has appointed current UK life & pensions chief operating officer Simon Skinner as chief executive of Aegon Ireland. Skinner replaces David Healy, who will leave Aegon Ireland at the end of August after 14 years at the company. Aegon UK chief executive Adrian Grace (pictured) says: ““Aegon Ireland is well positioned to capitalise on […]

Partied out and penniless

December has left me destitute. My piggy bank lies broken and empty, my lunchtime meal deal feels like an extravagant expense and I’m down to the Bountys in my box of Celebrations. But I won’t mourn my dearly departed pennies. Between buying gifts for loved ones (then deciding to keep them for myself) to treating […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm