Investing in gold and new energy
The development of new energy forms will benefit significantly from growing demand and efforts to improve energy efficiency, while many investment opportunities will arise this year for those investing in gold, BlackRock Merrill Lynch Investment Managers officials said at a presentation in Athens on Tuesday. BlackRock manages funds of $1 trillion (-755 billion), but is little known to the broader public. «This is the biggest unknown asset management company in the world,» its officials said jokingly. They presented the markets of gold and new forms of energy, explaining the significant investment opportunities they present. «Governments around the world are taking action to combat the risks from climate change by supporting alternative energy. By strategically setting up the New Energy Fund we intend to make the most of the likely explosion of alternative forms of energy, to maximize the returns for investors,» BlackRock officials said. They added that «new energy» investments are threatened by a possible decline of oil prices to $40 per barrel, but this is not very likely now. As far as gold is concerned, the fundamentals which have raised its price maintain their momentum, namely big demand from Asia, in particular, and its limited supply (both from mining and in central bank reserves).
