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Gold climbs to six-month peak on waning risk appetite
Gold climbs to six-month peak on waning risk appetite
Gold prices hit a six-month high on Wednesday as concerns over global growth and a partial government shutdown in the United States fueled risk aversion, prompting investors to seek refuge in the metal.
Related Ticker: GOLDX
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Financial analyst and market blogger with expertise in equity research, fundamental analysis, and macroeconomic trends. I regularly publish coverage on individual stocks, ETFs, and sector developments — combining rigorous financial analysis with clear, engaging writing for a broad investment audience.
Industry description
The investment seeks long-term capital appreciation.
The fund normally invests at least 80% of its net assets in equity securities of foreign and domestic issuers principally engaged in gold related activities and gold bullion. The adviser focuses on stocks that are undervalued, but which appear to have favorable prospects for growth. Because most of the world's gold production is outside of the United States, the advisor expects that a significant portion of the fund's assets may be invested in securities of foreign issuers, including those located in emerging markets.
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Category PreciousMetals
Category
Equity Precious Metals
Address
Gabelli Gold Fund, IncOne Corporate CenterRye
Phone
N/A
Web
www.gabelli.com
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