World’s Largest Hedge Fund Sees Gold Rising 30% To $2,000

Bridgewater’s co-chief investment officer Greg Jensen told the Financial Times that gold prices could rally to $2,000 an ounce.

The manager from the world’s biggest hedge fund cited increased income inequality in the U.S. and rising tensions with China and Iran as uncertainties that will prompt more safe-haven buying.

Jensen also believes the Federal Reserve would let inflation run hot for a while, which also creates an environment for higher gold prices.

Spot gold now trades at $1,551.40 per ounce, after crossing the $1,600 mark and hitting a seven-year high last week

FT via CNBC

Gold prices, which briefly topped $1,600 last week, could rally to $2,000 an ounce amid heightened political risks, Bridgewater’s co-chief investment officer Greg Jensen told the Financial Times Wednesday.

The manager from the world’s biggest hedge fund cited increased income inequality in the U.S. and rising tensions with China and Iran as uncertainties ahead that will prompt more safe-haven buying. Bridgewater manages $160 billion in assets, more than any other hedge fund.

“There is so much boiling conflict,” Jensen told the paper. “People should be prepared for a much wider range of potentially more volatile set of circumstances than we are mostly accustomed to.”

Jensen also believes the Federal Reserve would let inflation run hot for a while, which also creates an environment for higher gold prices as investors tend to use the precious metal as a hedge against inflationary forces.

Spot gold rose 0.3% to $1,551.40 per ounce on Wednesday, after crossing the $1,600 mark and hitting a seven-year high last week. The U.S.-China trade war and the Middle East unrest drove investors to more conservative investments for its stability during times of tumult, pushing gold prices higher.

Earlier last year, founder of Bridgewater Ray Dalio advocated putting money into gold as he saw a “paradigm shift” in investing due to global central banks’ expected moves to an easier monetary policy.

The Federal Reserve cut interest rates for three times last year to combat a slowing economy. Jensen said it’s possible the central bank could slash rates to zero this year to avoid a recession and disinflationary pressures.

Bridgewater is not alone in recommending gold bullion. DoubleLine CEO, Jeffrey Gundlach also said last year he was a buyer of gold on expectations that the dollar would weaken.



GOLD PRICES (USD, GBP & EUR – AM/ PM LBMA Fix)

16-Jan-20 1555.20 1554.55, 1190.97 1190.94 & 1393.61 1394.90
15-Jan-20 1551.90 1549.00, 1194.65 1189.01 & 1394.23 1389.14
14-Jan-20 1544.95 1545.10, 1190.69 1188.49 & 1387.83 1389.35
13-Jan-20 1550.35 1549.90, 1194.54 1192.96 & 1394.85 1393.52
10-Jan-20 1548.80 1553.60, 1185.45 1189.28 & 1395.78 1399.64
09-Jan-20 1547.85 1550.75, 1186.89 1188.49 & 1393.99 1396.14
08-Jan-20 1582.85 1571.95, 1206.13 1197.35 & 1421.87 1412.87
07-Jan-20 1566.50 1567.85, 1190.85 1197.05 & 1402.80 1406.52
06-Jan-20 1576.85 1573.10, 1198.09 1197.29 & 1408.44 1406.51

Is Your Gold and Silver Bullion S.A.F.E. ?
Segregated, Actionable, Flexible and what are the total Expenses?


SIGN UP FOR OUR AWARD WINNING MARKET UPDATES HERE

Mark O'Byrne

Also on news-goldcore-com

Videos

Gold Mining Operation Supply Issues Points to a Sustained Bull Market for Gold

What could send gold to $5000 per ounce?

Is it Good to Buy Gold Now?

Blog posts

Gold to Gain Momentum in 2021 – Here’s Why

Big ideas are like supertankers filled with oil; both take forever to get moving. The move from one state to another is a boring form of entertainment. However, each is impossible to stop once the momentum has built. Substantial progress can be seen over a period of time and one can notice and understand the […]

READ MORE

New Video: Dominic Frisby -Why Now is a Good Time to Buy Gold

This week’s guest on GoldCore TV is financial writer, author, and comedian Dominic Frisby who joins Dave Russell to discuss financial markets, inflation and why now is gold and silver’s time to shine… Watch the Video to Learn More Make sure you don’t miss a single episode… Subscribe to our YouTube channel. Gold to hit $3,000, […]

READ MORE

Will Gold and Silver Surge to New Highs in 2021?

Gold has clearly broken out to the upside in recent days and silver is rallying along with it! Gold has pushed past its 200-day moving average and broke upwards through the downtrend line. The gold price has risen 12% in US dollar terms from the year-to-date low set on March 30, 2021, of US$1683.95 to […]

READ MORE

Featured

How High is Too High for Rising Government Bond Yields?

READ MORE

Gold, the Tried-and-True Inflation Hedge for What’s Coming!

READ MORE

Silver – 7 Reasons it is Still Set to Soar

READ MORE
Newsletter
Category
Archives
Popular

No posts available

Videos

Gold Mining Operation Supply Issues Points to a Sustained Bull Market for Gold

What could send gold to $5000 per ounce?

Is it Good to Buy Gold Now?

Blog posts

Gold to Gain Momentum in 2021 – Here’s Why

Big ideas are like supertankers filled with oil; both take forever to get moving. The move from one state to another is a boring form of entertainment. However, each is impossible to stop once the momentum has built. Substantial progress can be seen over a period of time and one can notice and understand the […]

READ MORE

New Video: Dominic Frisby -Why Now is a Good Time to Buy Gold

This week’s guest on GoldCore TV is financial writer, author, and comedian Dominic Frisby who joins Dave Russell to discuss financial markets, inflation and why now is gold and silver’s time to shine… Watch the Video to Learn More Make sure you don’t miss a single episode… Subscribe to our YouTube channel. Gold to hit $3,000, […]

READ MORE

Will Gold and Silver Surge to New Highs in 2021?

Gold has clearly broken out to the upside in recent days and silver is rallying along with it! Gold has pushed past its 200-day moving average and broke upwards through the downtrend line. The gold price has risen 12% in US dollar terms from the year-to-date low set on March 30, 2021, of US$1683.95 to […]

READ MORE

Featured

How High is Too High for Rising Government Bond Yields?

READ MORE

Gold, the Tried-and-True Inflation Hedge for What’s Coming!

READ MORE

Silver – 7 Reasons it is Still Set to Soar

READ MORE