Paulson & Co. Exec Says Now is the “Right Time” for Gold
“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).
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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.’”
2012-10-18 16:00:16
Source: http://www.goldalert.com/2012/10/paulson-and-co-exec-says-now-is-the-right-time-for-gold/
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