As market volatility steadily increases, some of the savviest investors and most high-profile players in the market are scrambling to buy more gold products and precious metals. To date, the price of gold has surged 27 percent in 2016, outperforming stocks and many other commodities. As concerns about the global economy, Central Banks and the financial system grow, gold, silver and other metals are becoming the most precious option of all.
Real assets like silver, gold products and other tangible assets become some of the most desirable to hold in a turbulent market. As positive returns become rarer, the savvy investors flock to gold and other precious metals. The appeal of gold products and other precious metals is soaring as prices continue to surpass market predictions.
One of the latest high-profile investors to go on record with a bullish outlook for gold products is author and Janus Capital Group Fund Manager Bill Gross. Following in the footsteps of other major players including billionaire George Soros, DoubleLine Capital CEO Jeffrey Gudlach and Stanley Drunckenmiller, Gross is adding lots of gold to his portfolio.
Gundlach recently predicted that the price of gold could top $1,400—at the current price of around $1,360 per ounce, that’s not too far-reaching. Analysts at Bank of America set a target of $1,475 for the price of gold last month after seeing investor reaction to the United Kingdom’s Brexit vote. Commodities expert Dennis Gartman, who publishes The Gartman Letter, believes stocks are only going to fall further and has hedged his own portfolio with gold products for a considerable amount of time. Swiss Asia Capital’s Singapore Chief Investment Officer, Juerg Kiener, predicted will soar to its highest price ever—$1,900 per ounce. Kiener also serves as the company’s Managing Director.
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