LONDON: Investors in gold funds, whose value slumped a record $44.7 billion in the second quarter, may do better in the second half of the year if history is any guide.
Gains averaged 1.3% in the second half from 1981 to 2000, when gold endured a two-decade bear market, data compiled by Bloomberg show. First-half losses averaged 3.9% in the period.
Investors sold 404.4 metric tonne from exchange-traded products backed by the metal in the second quarter as prices tumbled into a bear market in April. Gold is poised for the first annual drop in 13 years after some investors lost faith in the metal as a store of value.
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