Sunday, January 29, 2012

Hedge Fund Guru Sees Gold Price Soaring

DAVOS, Switzerland—In the current uncertain environment, one hedge fund guru is in no doubt where investors should put their money – gold.

The fund manager, who wishes to remain anonymous, was unequivocal in his belief and was bullish on the longer-term outlook for the value of the precious metal: “Thousands of dollars per ounce,” he says. “Thousands.”

By the end of 2012, he sees the price of gold at between $2,000 and $3,000 per ounce. Even the bottom end of that range would represent a handsome gain. On the New York Mercantile Exchange Thursday, gold was trading at $1,726.10 per ounce.

“Gold is at the intersection of money trends,” says the hedge fund boss. “The only non-fake money is gold.”

The investor says there are lots of ways to get low-risk exposure to gold if there is a sustained loss of confidence.


- Jonathan Buck, with Barrons.com, read the full article here:

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