The "explosive, potential energy" of a huge "head-and-shoulders bottom" base is signalling a $1,000 move higher in gold prices, Jeffrey Gundlach,the founder of DoubleLine Capital, said last week at a New York event, reports Reuters. "Gold is maintaining an upward pattern above its rising 200-day moving average, which is extremely good," he said, referring to patterns that analysts see as bullish. "I'm not predicting it I'm letting the market prove itself."
The "Bond King" also argued that US Treasuries were "not attractive" despite rising yields, as various economic indicators suggest that US inflation is set to rise, which would hurt prices of government bonds (thus driving yields higher).
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
How semi-liquid funds can help retail investors profit from private marketsInvestment trusts offer access to enticing opportunities in global unlisted firms and assets. For highly experienced investors with plenty of money, semi-liquid funds are another way in
-
Little-known way inheritance tax pension raid could put thousands of businesses at risk – ‘issue is flying under the radar’Changes to inheritance tax rules could wipe out 15,000 businesses where owners put their premises in their pension, experts have warned
-
How to invest in energy and metals as tech stocks crashAnalysis It’s been a terrible week for stockmarkets. But not everything is crashing – “real” assets such as metals and energy are holding up well and should have a good 2022. Dominic Frisby picks the best ways to buy in.
-
Here’s how gold could rise above $7,000 an ounceFeatures That the gold price could hit $7,000 an ounce is a logical and plausible possibility, says Charlie Morris. Here, he explains how it could get there.
-
Gold will regain its shineFeatures The dash for gold suggests that investors see rising risks in markets and are seeking out an asset traditionally seen as the ultimate safe haven.
-
Gold has finally broken free – is its bull market here at last?Features Gold has had a quiet few years. But the conditions are now ripe for it to go on a proper bull run. John Stepek explains why.
-
Gold is back in a bull market – it’s time to buyFeatures The equity bull market is over, says Charlie Morris. But gold's is just starting.
-
Why it’s worth holding a bit of gold in your portfolioFeatures Global equities are almost in bear market territory. We don’t know what will happen next. But that’s exactly why you should have some gold, says John Stepek.
-
This may be one of the only cheap assets left out thereFeatures Wherever value investors look, assets are expensive, says Dominic Frisby. There is, however, one last hold-out where you might still be able to pick up a bargain.
-
Gold’s quiet comebackNews Gold has been among the best performing assets this year and could continue rising.
