Billionaire “Bond King” Jeffrey Gundlach says gold is going to go much higher — it just has to leave its hibernation mode first. He also said that the decline of the dollar is inevitable. He places the blame on economic policies put in place by the government.
Kitco News/Anna Golubova
Gold price is in ‘hibernation,’ but it is going ‘a lot higher’ – Bond King Jeffrey Gundlach
Billionaire “Bond King” Jeffrey Gundlach sees the U.S. dollar on the decline and gold going a lot higher after the precious metal leaves its hibernation mode.
“My number one conviction looking forward a number of years — I’m not talking about the next few months at all, I’m talking about several years — is that the dollar is going to go down,” DoubleLine CEO Jeffrey Gundlach told Yahoo Finance. “The dollar going down is another reason why we touched on gold. I think ultimately gold is going to go a lot higher, but it’s really in hibernation right now.”
The dollar’s decline is inevitable because of the economic policies implemented by the U.S., Gundlach said, adding that it is all about the debt levels.
You can read the full story, here.
CNN Business/Anneken Tappe
You should watch this nerdfest if you care about your money
Wall Street is going to cling to every word spoken this week at the nerdiest of economic nerdfests.
The Federal Reserve will divulge its thinking about the next months and years’ worth of monetary policy at Friday’s virtual Jackson Hole Symposium.
For analysts, the annual resort hangout for central bankers represents a chance to get a real sense of where the Fed is headed: When will the central bank taper its monthly buying spree of securities? When will interest rates go up?
It’s a must-watch if you’re a serious investor, not least because the symposium comes at a time of rising Covid cases due to the more infectious Delta variant and softening economic data.
Continue reading, here.
CNBC Select/Jasmin Suknanan
Here’s why our brains make it so hard to start saving for retirement
Psychology is often just as important in personal finance as are the numbers — the way we save, spend and invest are all influenced by the way we think and feel, especially when it comes to preparing for future events like retirement.
Saving money for retirement is important because you’ll need a nest egg when you’re no longer working. The best way to guarantee an income when you’re in your golden years is to save and invest as much as you can now while you are still working.
It can be tough to realize at first — and our brains don’t make it any easier for us to get the ball rolling on saving for something that may seem so far away. There are the many psychological pitfalls our minds are subject to when it comes to saving, investing and taking the actions that will benefit us long-term.
Here’s a breakdown of how our brains play a role in saving for retirement.
Read the full story, here.