Guggenheim's Minerd likes gold - "accumulation of gold … a responsible policy response"
Scott Minerd is chief investment officer at Guggenheim Investments. This via his latest note on what to expect from the Federal Reserve, his "Fed Roadmap":
- With the Fed going all-in on financing the government deficit, the U.S. dollar could be at risk to negative speculation of its status as the dominant global reserve currency.
- Investing in gold may help offset this trend.
- The accumulation of gold as a reserve asset historically has been seen as a responsible policy response in periods of crisis.
- This may very well become the policy option of choice in the future.
One for the gold bugs!