(fx street) Jeffrey Gundlach, Wall Street's bond king and Founder and Chief Executive Officer of DoubleLine Capital, expressed his take on gold prices, given the recent surge.
Key Quotes (via Reuters):
Repo market squeeze makes it even more likely that the Fed will resume expansion of its balance sheet 'pretty soon'.
Federal Reserve will embark on 'QE lite, Fed will grow balance sheet 'in line with the growth in a currency like they did before the credit crisis'.
'Less positive' on gold as a buying entry because of a recent rally.
Chances of a US-China trade deal are 'below zero' ahead of the 2020 presidential election.
The next big move in the US dollar is down.
