Warning: file_exists(): File name is longer than the maximum allowed path length on this platform (260): C:\zpanel\hostdata\zadmin\public_html\forexbr_com_br/wp-content/cache/supercache/www.forexbr.com.br/2020/05/08/the-tell-the-stock-market-may-get-cut-in-half-but-this-most-undervalued-asset-is-about-to-surge-billionaire-investor-says/meta-wp-cache-447ff98999f0b32ba5e563ed63031143.php in C:\zpanel\hostdata\zadmin\public_html\forexbr_com_br\wp-content\plugins\wp-super-cache\wp-cache-phase2.php on line 71 The Tell: The stock market may get cut in half, but this ‘most undervalued’ asset is about to surge, billionaire investor says – Forex Brasil

The Tell: The stock market may get cut in half, but this ‘most undervalued’ asset is about to surge, billionaire investor says

Gold, advised Singer, is “one of the most undervalued” assets available and it’s worth “multiples of its current price” due to the “fanatical debasement of money by all of the world’s central banks.” His fund gained about 2%, the FT reported, thanks primarily to profits from its gold position.

Andrew Law’s Caxton Associates and Danny Yong’s Dymon Asia Capital have joined Singer in seeking protection in their gold positions amid further loosening monetary policy.

“Gold is a hedge against unfettered fiat currency printing,” said Yong, whose fund is up 36%.

Caxton has also enjoyed double-digits gains, the FT reported, with its Global fund rallying some 15% and its Macro fund logging a 17% jump so far this year.

Read:Gold as an investment is made for times like these

On Tuesday, however, gold GC00, -0.53% was posted its first loss in three sessions, amid optimism about the easing of business lockdowns in the U.S. and Europe.

“Risk appetite among investors improved with moves by major economies to ease lockdowns related to the coronavirus crisis,” analysts at ICICI Bank, wrote in a market update.

That hunger for risk was on display in the stock market, with the Dow Jones Industrial Average DJIA, +1.90%, S&P 500 SPX, +1.68% and Nasdaq Composite COMP, +1.57% all closing in the green on Tuesday. Futures on Wednesday are pointing to another advance.

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