Jeffrey Gundlach is betting on gold, as he expects the dollar to finish the year lower.
The DoubleLine CEO is betting on gold, as he expects the dollar to finish the year lower.
The so-called bond king noted 2019 has been "the opposite of 2018" because gold, bitcoin, stocks and bonds are all making money.Adam Jeffery | CNBC"I am certainly long gold," Gundlach said in an investor webcast on Thursday. He added his trade is based on the expectation that the dollar will finish the year lower.
Gold prices hit a three-month high in June as investors fled to the safe-haven bullion amid escalated trade tensions. Meanwhile the dollaron Wednesday as the market increasingly bet on a rate cut in the coming months. Despite the trade war, the S&P 500 is still up more than 15% this year, while the 10-year Treasury yield dropped to its lowest level since 2017 this month. The, inverting part of the so-called yield curve. Yield-curve inversion has been a reliable recession signal closely watched by experts and the Federal Reserve.
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