“I think gold has an appropriate place in a portfolio during certain macroeconomic circumstances and I think that’s right now,” stated Paulson & Co. senior vice president John Reade at the SALT conference in Singapore today.
Reade – whose billionaire boss, John Paulson, has been one of the most prominent gold bulls in recent years – went on to say that “Under the right macroeconomic circumstances, gold is a good place to be and those circumstances will continue to play out over the next few years.”
Paulson & Co. has been the largest shareholder in the SPDR Gold Trust (GLD) – the world’s largest gold ETF – since 2009. The firm has also held significant positions in many gold stocks over the years, including AngloGold Ashanti (AU) and Kinross Gold (KGC).
(More precious metals analysis and commentary available at GoldAlert Pro – http://pro.goldalert.com )
Other noteworthy comments by Reade included the following:
“There is no doubt the expectation or the announcement of QE4 or QE infinitive has been positive for gold and I would expect gold will do well in this environment where central banks will continue to print and where monetary policy is still in an extraordinary condition.”
“‘We are in a low-growth environment with high U.S. unemployment for the next few years. I can’t see any way monetary policy can be normalized quickly.’”
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