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Bond guru Gundlach: 80% chance of making 10% in gold

Discussion in 'Fundamental Analysis' started by AllFXBrokers, Jul 11, 2016.

  1. AllFXBrokers

    AllFXBrokers Member Trader

    Jul 10, 2016
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    Bond guru and head of DoubleLine Capital gave an interview with Barrons over the weekend. Sharing his thoughts on a variety of factors ranging from the Brexit fallout to the upcoming US elections, Gundlach maintained his views that gold prices are more likely to go higher. He said, "Gold miners have a very high probability—if you bought them today and were disciplined—of making 10%. There’s an 80% chance of making 10% in gold; the probability of a 10% gain on Treasuries is 20% at best."

    Last week, the risk aversion in the markets was back with gold prices seen surging to new one-year highs. Comex gold futures closed the week at $1358.4 an ounce, after a brief pullback from the highs of $1377.5. Price broke above 2015 highs of $1307.8 and is now likely to challenge 2014 highs of $1392.6.

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