Man Who Oversees More Than $100 Billion Urges Investors To Buy Gold & Gold Miners
KingWorldNews.com
August 01, 2016
With the price of oil tumbling and silver moving higher, the man who oversees more than $100 billion urges investors to buy gold and gold miners.
From CNBC: Jeff Gundlach, who oversees more than $100 billion at Los Angeles-based DoubleLine, “The yield on the 10-year yield may reverse and go lower again but I am not interested. You don’t make any money. The risk-reward is horrific,” Gundlach said. “There is no upside” in Treasury prices.
Gundlach reiterated that gold and gold miners are the best alternative to Treasurys and predicted gold prices will reach $1,400. U.S. gold on Friday settled up at $1,349 per ounce.
Gundlach lambasted Federal Reserve officials yet again for talking up rate hikes for this year while the latest GDP data showed disappointing economic growth. “The Fed is out to lunch. Does the Fed look at what’s going on in the economy? It is unbelievable,” he said.
Overall, Gundlach said the Bank of Japan’s decision on Friday to stick with its minus 0.1 percent benchmark rate — and refrain from deeper cuts — reflects the limitations of monetary policy. “You can’t save your economy by destroying your financial system,” he said.
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