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Paul Singer: Gold just getting started

May 11, 2016 7:32 AM ETGLD, IAU, GTU, DGL, DGP, DZZ, DGZ, UBG, UGL, GLL, SGOL, PHYS, UGLDF, DGLDF, OUNZ, GYEN, GEUR, GLDI, QGLDXBy: Stephen Alpher, SA News Editor19 Comments
  • "Investors have increasingly started processing the fact that the world’s central bankers are completely focused on debasing their currencies," says Singer in a late-April letter to clients. "We believe the March quarter’s price action could represent something closer to the beginning of such a move than to the end.”
  • Singer's views are at odds with Goldman, where the bank in general has a more bullish view on the economy, and, in particular expects more hawkish action from the Fed than what markets currently believe. Goldman sees gold at $1,200 per ounce in three months, $1,180 in six, and $1,150 in a year (current price is $1,277).
  • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, UGLD, GLL, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, GYEN, GEUR, UBG, QGLDX

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