Bernstein Quants Join Bulls on Gold Sector as Cycle Darkens
- Late-cycle angst sees a slew of big names get bullish on gold
- When gold rallies, bets on miners return about 80 percent more
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For all the attention lavished on gold for its relative durability during this global dash into risk, the real story could be the companies digging it out of the ground.
A growing chorus of big names -- including everyone from the quants at Bernstein to Pictet’s multi-asset team -- is turning increasingly bullish on miners as late-cycle angst and industry shifts make conditions ripe for a prolonged rally.