Why King Bond, Jeff Gundlach, says record gold is willing to another 20%

• Gold prices Jeff Gundlach says it could accumulate 20% more even after a recent record chain.

• This is because investors finally treat gold As a real class of assets instead of a safe shelter.

• The price of glue It is up to 25% current year.

The Golden Record Manifestation is not about to be finished, according to “Bond King” Jeff Gundlach.

Doubleline Capital’s CEO predicted that the precious metal price could rise up to $ 4,000 in ounce, a 20% gain from Friday afternoon of $ 3,345.

Speaking to CNBC this week, Gundlach said that the volatility related to rates changes the way in which merchants see beautiful metal, pointing to their 25% rally year.

“I think this tells us that we are in a regime where gold is no longer a speculation for short -term traders or survivors as long -term retention. I think people see gold as a class of asset for fear of the crisis that occurs geopolitically, with the rates and everything else, and only the amount of debt This exists, people ask how we will treat this. Thus, gold is a kind of true monetary asset, “said Gundlach.

The Golden Global Market with physical support increased by $ 11 billion in April to $ 397 billion, according to World Gold Council data.

Meanwhile, 58% of the world’s worldwide managers of a recent Bank of America said they believed that gold was the safest asset in a complete trade war.

Gundlach added that he believes that the backdrop for other risk assets, such as stocks, is a challenge at this time. Bend in its forecast that stocks could see a short -term “breakdown”, possibly taking the S&P 500 up to 4,500. This would involve a fall of 20% of current levels.

“I feel as if we were in an intermediate risk risk market,” he said.

Other forecasts have published cornists in gold in recent months, citing the uncertainty derived from Trump’s trade policy.

Goldman Sachs It raised its price of precious metal last month to $ 3,700 at UNA, pointing to high levels of political uncertainty and a potential slowdown in the United States economy.

UBS and Bank of America have also published $ 3,500 price goals on gold, which involves 4% at the height of current levels.

Read the original item at Business Insider