US hedge fund extraordinaire Paul Tudor Jones is going for gold. The hedge fund billionaire jumped on the gold trade recently and made a notable call last week, citing gold as his number one trade over the next 12 to 24 months. Mr Tudor Jones highlighted a “cocktail of a dovish Federal Reserve and heightened geopolitical tensions as a perfect time to buy bullion and stocks.”
“I think one of the best trades is “gonna be gold.” If I had to pick my favorite [bet] for the next 12 to 24 months, it’d probably be gold.” I tend to agree and we are overweight precious metals in the Global Contrarian Fund and the Managed account portfolios.
Mr Tudor Jones went on to say during an interview with Bloomberg last week that if gold “goes to $1400, it goes to $1700 rather quickly,” referring to the potential for bullion prices to catapult sharply higher. It has everything going for it in a world where rates are conceivably going down in the US and going to zero, it has everything going for it.”
