CNBC: DoubleLine's Jeffrey Gundlach Believes Holding a 25% Gold Position isn't Excessive
Article by Yun Li in CNBC
DoubleLine Capital CEO Jeffrey Gundlach is getting so bullish on gold that he is saying investors could hold up to a quarter of their portfolios in the metal, far above what normal portfolio recommendations set for commodities.
Gundlach, whose firm managed about $95 billion at the end of 2024, believes gold will continue to stand out amid an already stellar year on the back of inflationary pressures and a weaker dollar.
“I think almost certainly gold will close above $4,000 before the end of this year,” Gundlach said on CNBC’s “Closing Bell.” His forecast represents a 7% upside from the current record level.
“I still think a 25% type weighting in gold is not excessive. I think that is an insurance policy. It’s in a winning mode because of the weaker dollar and I believe that’s going to continue,” he said.
A weaker U.S. dollar makes .....