Vikram Barhat / May 04, 2010
Precious metal funds posted best returns in April as markets see-sawed over the Greek debt crisis, according to preliminary performance data released by Morningstar Canada.
"Government debt and related currency concerns helped boost the price of gold and other commodities," said Esko Mickels, fund analyst for Morningstar Canada.
With 12.2% return, Morningstar Precious Metals Equity Fund Index proved to be the best performer for the second time in the past three months, the report said. Thirty-six of the 43 Morningstar Canada Fund Indices had positive returns in April, though 22 of them gained less than 1%. LINK...
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As the problems persist in the Euro zone, many currencies will be volatile. As we posted last week on April 29, take a look at the comparison of gold to various global currencies and you'll find that gold has out-performed all of them. It is becoming evident that gold will become the currency of last resort. GCC
