Jeff Gundlach gave a big presentation today, covered by the internet media. Here is what we had to say about Gold as reported by SeekingAlpha:
“Do not sell your gold,” says Jeff Gundlach, suggesting the yellow metal could hit $1,350 this year. “If you want to speculate, I would be on the long side of the miners.” He’s long some of them and making some money lately, but overall losing cash on the trade.
Gundlach scratches his head over the giddiness with which many analysts greet declines in gold. It’s just another asset, after all.
That last point probably refers to the likes of Barry Ritholtz though Barry would deny