Last month’s Fraser Institute report on mining (2009/2010) showed that more than 43% of mining company respondents rated gold as their number one targeted commodity.
However, just three weeks later, a survey carried out by Barclays Capital (Barcap) – one of the biggest global financiers of the minerals industry – shows that investors don’t think the same way.
Indeed, the head of Barcap’s commodities team, Kevin Norrish, declared: “Not one single respondent chose gold as a best performer for 2011. Investors don’t believe in the gold story anymore.”