BlackRock Thematic and Sector Investing Global Head Evy Hambro discusses the current situation in the gold market as the precious metal extended a six-day rally to print a fresh all-time high, and what this means for the gold mining industry. Speaking on Bloomberg Television, Hambro says there is a “rather surprising trend of share buybacks across the space.” He also says there is a tactical allocation to gold in multi-assets portfolios, and central banks are looking to build gold reserves. “As long as these trends continue, then we’re going to have these tailwinds for gold price and that will flow through into the equities.”
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