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Rating:Gundlach Warms Up to Gold, Email Routing List Email & Route  Print Print
Wednesday, September 11, 2013

Gundlach Warms Up to Gold, "Sort of"

News summary by MFWire's editors

The bond fund prince has lots of feelings on gold; feelings that change as quickly as a mood ring.

DoubleLine's [profile] Jeffrey Gundlach changed his statement on gold from "I'm not really that fond of gold…I think gold makes it to 12 handle, maybe $1280," to a half-hearted affection for the precious metal, saying, "Gold as lost its safe-haven status. It was kind of over-believed. Now I kind of like gold," Barron's Michael Aneiro reports.

Gundlach made the statement during a presentation, Aneiro reports, quoting him as saying, "It's definitely very non-correlated to other assets you may have in your portfolio, and it does seem sort of cheap." Gundlach also has lukewarm feelings on DoubleLine's [profile] Market Vectors Miners ETF, as Aneiro quotes him as saying, "I sort of like the GDX."

To read more, click here

Edited by: Casey Quinlan

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