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"I'm A Fan Of Gold" - Seth Klarman Supports 'Prudent' Positioning As Goldman Hikes Precious Metal Price Target
Gold broke down this morning below $1800, losing its modest gains for the year (but still outperforming bonds, stocks, and crypto YTD). This move comes amid geopolitical chaos, monetary policy uncertainty (rate-cut expectations soaring), and recession fears growing. chart Nevertheless, Baupost's Seth Klarman said in his latest note to investors that: "I'm a fan of gold. I think gold's valuable in a crisis." And we suspect few believe we are not in crisis currently. So why has gold been hammered, and what happens next? Goldman's Mikhail Sprogis and his commodities research team believe a 'wealth shock' has subdued ... (full story)