Why BlackRock’s Koesterich Cut Gold in Portfolio to Near-Zero

Sep.16 — Russ Koesterich, portfolio manager at BlackRock Global Allocation Fund, says his fund has sold almost all of his gold holdings on expectations that real rates will normalize. “Fourteen months ago, we had a fairly significant position in gold. Today, we’ve reduced it to almost zero,” Koesterich says on “Bloomberg Surveillance.”

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