Gold Seen Entering a Long-Term Bull Cycle
- Bullion’s rising from ‘oversold, distressed’ levels: Parrilla
- Global central banks seen testing limits of monetary policy
Sibanye Gold CEO: People Bullish on Future of Gold
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Gold will likely soar to a record within five years as asset bubbles burst in everything from bonds to credit and equities, forcing investors to find a haven, according to Old Mutual Global Investors’ Diego Parrilla.
The metal is at the start of a multi-year bull run with a “few thousand dollars of upside” in a world of “monetary policy without limits” where central banks print lots of money and low or negative interest rates prevail, said Parrilla, who joined the firm as managing director of commodities last month. He’s worked at Goldman Sachs Group Inc. and Bank of America Merrill Lynch.