Survey Finds Majority Of 130 Canadian Advisors Bullish On Gold

An Investment Executive survey found an increasing percentage of Canadian advisors are bullish on gold: of the more than 130 sampled, a majority view the metal's prospects favourably.

Despite the huge run-up in gold prices in recent months, advisors aren’t convinced that the rally has ended. The percentage of advisors bullish on gold jumped to 53% from 35% in the first quarter, and 51% said they’re bullish on gold stocks, up from 38% in Q1.

“After one quarter of doubt, it appears advisors once again see value in investing in precious metals,” said Howard Atkinson, president of BetaPro. “Bullish sentiment on both gold and silver was very strong in the Q2 Survey.”

Last quarter saw increasing skepticism about gold. This quarter, more advisors are becoming leery of crude oil. Japan's woes and the demand reduction that will be called forth by higher oil prices, which will impact economic growth, were the main reasons for the skepticism.