Other Mainstream Analysts Are Also Turning Positive on Gold

Each week, we hear from more mainstream analysts turning bullish on gold or increasing their previous price projections for the yellow metal. Last week, we reported on one JP Morgan executive who predicted $1400 gold this year.  Now we hear from Bob Michele, JP Morgan Asset Management’s global chief investment officer and head of fixed-income and commodities.

Other Mainstream Analysts Are Also Turning Positive on Gold

Each week, we hear from more mainstream analysts turning bullish on gold or increasing their previous price projections for the yellow metal. Last week, we reported on one JP Morgan executive who predicted $1400 gold this year.  Now we hear from Bob Michele, JP Morgan Asset Management’s global chief investment officer and head of fixed-income and commodities....

Other Mainstream Analysts Are Also Turning Positive on Gold

Each week, we hear from more mainstream analysts turning bullish on gold or increasing their previous price projections for the yellow metal. Last week, we reported on one JP Morgan executive who predicted $1400 gold this year.  Now we hear from Bob Michele, JP Morgan Asset Management’s global chief investment officer and head of fixed-income and commodities...

Other Mainstream Analysts Are Also Turning Positive on Gold

Each week, we hear from more mainstream analysts turning bullish on gold or increasing their previous price projections for the yellow metal. Last week, we reported on one JP Morgan executive who predicted $1400 gold this year.  Now we hear from Bob Michele, JP Morgan Asset Management’s global chief investment officer and head of fixed-income and commodities.

Other Mainstream Analysts Are Also Turning Positive on Gold

Each week, we hear from more mainstream analysts turning bullish on gold or increasing their previous price projections for the yellow metal. Last week, we reported on one JP Morgan executive who predicted $1400 gold this year.  Now we hear from Bob Michele, JP Morgan Asset Management’s global chief investment officer and head of fixed-income and commodities..

Other Mainstream Analysts Are Also Turning Positive on Gold

Each week, we hear from more mainstream analysts turning bullish on gold or increasing their previous price projections for the yellow metal. Last week, we reported on one JP Morgan executive who predicted $1400 gold this year.  Now we hear from Bob Michele, JP Morgan Asset Management’s global chief investment officer and head of fixed-income and commodities.

Other Mainstream Analysts Are Also Turning Positive on Gold

Each week, we hear from more mainstream analysts turning bullish on gold or increasing their previous price projections for the yellow metal. Last week, we reported on one JP Morgan executive who predicted $1400 gold this year.  Now we hear from Bob Michele, JP Morgan Asset Management’s global chief investment officer and head of fixed-income and commodities.

Gold retreated last Friday and so did stocks. Through mid-May, gold has outperformed stocks by 20%. Gold held up well through Thursday, but some positive economic indicators released on Friday sent the price of gold back down to $1273. One major Friday indicator showed retail sales rising a robust 1.3% in April, well above the expectations of 0.8%. Ironically, gold often declines on good economic news and rises on bad news. In the previous two weeks, gold rose after a weak jobs report and a weak GDP report.

Gold retreated last Friday and so did stocks. Through mid-May, gold has outperformed stocks by 20%. Gold held up well through Thursday, but some positive economic indicators released on Friday sent the price of gold back down to $1273. One major Friday indicator showed retail sales rising a robust 1.3% in April, well above the expectations of 0.8%. Ironically, gold often declines on good economic news and rises on bad news. In the previous two weeks, gold rose after a weak jobs report and a weak GDP report.

Billionaire Stanley Druckenmiller Says “Sell Stocks” and “Buy Gold”

The most important gathering for highly successful hedge fund managers and other major asset managers each year is the Sohn Investment Conference in New York.  In last week’s meeting, the world-renowned billionaire investor Stanley Druckenmiller shared his view that the stock market has “exhausted itself,” making gold a far superior investment looking forward. Druckenmiller’s Duquesne Capital fund has recorded superior annual returns over the last 35 years. From 1986 to 2010, his fund averaged 30% per year. His group has never had a losing year and he’s up 8% so far this year (while stocks are only up 1%).