This year has not been a favorable year for the valuable metal stock buyers at the world’s biggest asset manager but their luck might take a favorable turn.
The $1.3 billion Black Rock Gold and General Fund both lost around 15 percent last quarter which is their worst performance since the third quarter of 2015. Among all the large focused equity funds it was the second worst performance after another Black Rock gold fund got its base in Japan.
Black Rock was not the only player in the market to suffer losses on its investments in gold in the first quarter of the year, where in both AMG and Franklin funds lost more than 9 percent in the same period of time. While the gold price has gone up higher this year and the earnings that are produced are on a rise, where in the investors are looking for better returns in the glittering industries like the electric vehicle commodities, pot and crypto currencies during the time of rising rate of interest and increased trend of global growth.