The firm has also shaven the expense ratio on its exchange-traded iShares Comex Gold Trust by 0.40% to 0.25%.
Echoing the sentiments of
Robert Fairbain, head of BlackRock's global client group, added: "The increased accessibility to the gold market, the decline in gold production since 2001, and a shift in Central Bank strategy toward accumulating rather than selling gold reserves -- have all been instrumental in supporting the upward trend in the price of gold over the past nine years."
Money Management Executive's take: BlackRock foresees the upward trend in the price of gold continuing. Given Hambro's delivery of 17% YTD returns on the BlackRock Gold and General Fund -- compared with the MSCI Gold Index 11% YTD rise -- investing in gold is worth consideration.