Portfolios across the board have taken big losses across the board, with few if any exceptions and if rumors emanating from a recent Financiers Convention in Europe are to be believed, Fund Managers are now looking for increased flexibility to put the books back in positive territory.

A source from another European-based firm, who attended the conference, claimed that the Portway Capital party seemed particularly keen in gleening information on the metals markets in general, but the general belief of the approached parties was that the focus was on Gold – traditionally the safe haven in times of economic hardship.

This is considered by some to be flaky logic from Portway Capital, as the general consensus is that the market has already reacted to the general upturn in risk and therefore any upside in Gold is likely now built into the price – which has charted a steady rise throughout the year, but one insider from Portway Capital, who wished to remain anonymous, shed a slightly different light on the outlook.

The source, an who holds an administrative position within Portway Capital, claimed to have seen management level briefings suggesting that a better than expected Q2 earnings season in the US, coupled with a temporary lull in the ever-ascending oil prices (due largely to the short-term perception of regional stabilities in the Middle East and North Africa), may ease pressure on the dollar and thus short-term present a buying opportunity for gold as investors begin to relax again. “The correspondence stated that any lull in current trends re the Dollar and Crude will be short-lived as the second wave of the credit squeeze takes effect” said the source from Portway Capital.

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