Jeffrey Gundlach, founder and CEO of hedge fund DoubleLine, told a U.S. pre-election webcast on Monday that gold remains an ideal hedge for inflation, is a “good holding for tail risk ahead” and “will go up very substantially over time.”
What he did not say was for how long a timeframe.
The uncertainty over the outcome to Vote 2020—shaped by polls shifting by the hour and President Donald Trump’s apparent urge to legally challenge every unfavorable outcome—has made gold a tricky bet.
In Tuesday’s early Asian trade, U.S. gold futures for December delivery hovered at $1,893, up 50 cents, or nearly 0.3%—extending Monday’s gain of 0.7%. December gold came within striking distance of $1,900 in the previous session—a level gold bugs had been trying to return to since Oct. 29. Gold 60 Mins As everyone and their grandmother probably knows, gold is a hedge against both political troubles and fiscal expansion.But the […]
November 3, 2020 (updated November 3, 2020) Published by StockMan