Jeff Gundlach on Gold: Now, I kind of like gold…
Barron’s Focus on Funds writes:
Speaking during a presentation this afternoon, DoubleLine Capital bond guru and all-purpose investing opportunist Jeff Gundlach – who has not historically been a big fan of gold – has apparently softened his stance enough to offer a tepid endorsement.
“Gold lost its safe-haven status,” Gundlach said. “It was kind of over-believed. Now, I kind of like gold. It’s definitely very non-correlated to other assets you may have in your portfolio, and it does seem sort of cheap.”
He offers similarly hedged praise for the Market Vectors Gold Miners ETF (GDX). “I sort of like the GDX,” he said.