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Precious metal funds best-performing sector in July

Gold_bars_1Gold and other precious metal funds were the best-performing sector last month as signs of a global economic recovery slowed.

A survey by the UK online investment service provider Willis Owen found that, by contrast, the worst performing sector in July was Japanese equities.

The survey also found that energy and Latin American funds were the worst performing sectors due specifically to the pandemic crisis.

Adrian Lowcock, Willis Owen’s head of personal investing, said: “The recovery in global stock markets slowed as the initial rebound in the global economy, particularly the US, began to stall and early gains in global stock markets in July petered out.

“Gold, which has been performing well since the crisis began, made further gains due to a combination of concerns over further breakouts of Covid-19, weaker US dollar and expectations that the government and central bank stimulus will lead to inflation.”

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