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Gold to Gain on Massive Currency Debasement, SkyBridge Says

  • Bullion is seen by co-CIO Gayeski as a ‘natural alternative’
  • Prices may climb to $2,200 as central banks fight the pandemic
Russian Gold Bar Production At Ural Mining And Metallurgical Co.
Photographer: Andrey Rudakov/Bloomberg
Updated on

Gold will extend its record-setting rally on “massive currency debasement” and expectations for further stimulus, according to SkyBridge Capital, which recently added exposure to the metal after exiting in 2011.

“When you think of currency debasement the question is, what is the dollar going to weaken against, and when you look around the globe, it’s hard to be excited about alternative currencies,” said Troy Gayeski, co-chief investment officer and senior portfolio manager, listing the euro, yuan and emerging-market monies. “So, gold is obviously a natural alternative currency.”