This is according to the World Gold Council, which says that ‘alternatives' make up 23% of sovereign wealth fund portfolios and 24% of global pension funds, up from single digits in 2000.
"Alternatives can offer attractive returns but be highly correlated to the stock market during downturns and often require long holding periods.
"Our research suggests that gold can complement alternatives by providing returns, improving diversification, adding liquidity, and enhancing overall portfolio performance.
Overnight, the gold price was fixed at $1311.58.
The WTI crude oil price was slightly down overnight at $60.47 per barrel.
In softer commodities, cocoa increased $21 per tonne or 1.04% to $2034/t yesterday from the $2013 in the previous trading session, tradingeconomics.com reported. Historically, cocoa reached an all-time high of $4361.58/t in July of 1977 and a record low of $211/t in July of 1965.
Coffee decreased 0.35c per pound or 0.28% to 122.95c/lb yesterday from 123.30c/lb in the previous trading session, tradingeconomics.com reported. Historically, coffee reached an all-time high of 339.86c/lb in April of 1977 and a record low of 42.50c/lb in October of 2001.