STORY: Gold prices headed for their best quarter in more than eight years on Friday, after hitting a string of record highs in recent sessions as the start of U.S. monetary easing boosted the appeal of unyielding bullion.
Following last week's half-percentage point cut by the Federal Reserve, speculative demand for the metal has pushed gold to an 'oversold' technical level. Still, some banks expect prices to rise toward $3,000.
Browne said gold is “the largest part of our portfolio, still holding around 7%.”
“As we work through this period of uncertainty, we're just thinking about all the geopolitical risks and everything else: it's just natural that gold should have a place in people's portfolios,” he said.
