Singer Says Gold Rally Just Beginning as Goldman Sees Losses
- Elliott hedge fund manager cites global currency `debasing'
- Goldman sees losses for bullion even after raising outlook
Gold Prices Are Still Solid
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Billionaire hedge fund manager Paul Singer said that gold’s best quarter in 30 years is probably just the beginning of a rebound as global investors -- including Stan Druckenmiller -- weigh the ramifications of unprecedented monetary easing on inflation.
“It makes a great deal of sense to own gold. Other investors may be finally starting to agree,” Singer wrote in an April 28 letter to clients. “Investors have increasingly started processing the fact that the world’s central bankers are completely focused on debasing their currencies.”