Gold Isn’t the Warning Ken Griffin Worries About

In the history of Wall Street, few have been as successful as Ken Griffin. Over the past three decades, he has built his Citadel hedge fund into a global financial behemoth, helping Griffin accumulate a personal net worth of about $48 billion. So when he makes a market call, it’s worth paying attention.

This time, Griffin is taking aim at gold, saying it’s sending a cautionary message. The shiny haven metal has appreciated by about 121% since the end of 2022, recently hitting the $4,000 an ounce milestone — historically, the type of market development you might associate with inflation risks, extreme geopolitical uncertainty or even a financial crisis. Call it a “yellow flag” at this stage.