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Tuesday, November 17, 2009

PMs Weigh in on Golden Prospects

News summary by MFWire's editors

As gold mutual funds continue to perform, portfolio managers are hoping to further boost returns by investing in mining shares and production, rather than traditional bullion.

The Wall Street Journal's Fund Track Tuesday asked fund managers how to cash in on the trend. On Monday, the Philadelphia Gold Silver index was up over 50 percent on the year, with spot gold up more than 30 percent. Mining shares still trail bullion prices, but fundsters prefer the production investments, because there is greater potential for future earnings.

Among those quoted in the article are Caesar Bryan of Gamco Gold Fund, Tocqueville Gold Fund's John Hathaway, Mark Johnson of USAA Precious Metals and Minerals Fund, First Eagle Gold Fund's Rachel Benepe, Van Eck International Investors Gold Fund's Joe Foster, and Frank Holmes, chief executive and chief investment officer with U.S. Global Investors, which runs the Gold & Precious Metals Fund

Edited by: Daniel Tovrov

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