One Man's View

It's just one man's opinion but one you might want to consider, Jeffery Gundlach.
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Despite dipping to multi-month lows, one Wall Streeter – known to most as the “Bond King” – isn’t giving up on gold just yet.

Jeffrey Gundlach, founder of the more than $100 billion L.A.-based investment firm DoubleLine Capital, told reporters he expects financial markets to reverse course and that means, gold would move higher.

“The dollar is going to go down, yields have peaked and will move sideways, stocks have peaked as well and gold is going to go up in the short term," he said.

Gold continues to trade at 10-month lows as the U.S. dollar and bond yields creep higher since President-elect Donald Trump’s surprise victory last month. U.S. stock markets have also hit record highs since the election results came out, which have taken funds away from hard assets like gold. February Comex gold futures settled the day down 0.33% at $1,169.40 an ounce.

Gold continues to trade at 10-month lows as the U.S. dollar and bond yields creep higher since President-elect Donald Trump’s surprise victory last month. U.S. stock markets have also hit record highs since the election results came out, which have taken funds away from hard assets like gold. February Comex gold futures settled the day down 0.33% at $1,169.40 an ounce.

However, Gundlach said the so-called Trump Rally seen in U.S. stock markets, treasury yields and the greenback may be “losing steam.”

"It is so late to be buying the Trump Trade," he said.

According to the billionaire fund manager, investors are now looking for harder assets, telling reporters, “No more on this 'man behind the curtain' stuff. Industrials, materials ... people are tired of tweets. They want cement."

Gundlach’s outlook on gold is a stark contrast to another billionaire investor Stanley Druckenmiller, who after the presidential election, said he sold all his gold holdings on election night.

“All the reasons I owned [gold] for the last couple years, it seems to me they may be ending," he said in an interview with CNBC.

kitco.com/news/2016-12-01/Too-Late-To-Be-Buying-Trump-Trade-Gold-Moving-Higher-Gundlach.