Tony Hall Predicts Gains in Gold Commodities

September 20, 2011 James Heinsman Hedge Fund News

According to hedge fund manager Tony Hall, investors seeking to secure their assets will be drawn to gold, platinum and Brent oil.

Hall, the chief investment officer of Duet Commodities Fund, also predicted that gold may climb 21% to an all-time high of $2,200 an ounce by the end of this year, while platinum may gain 10% and Brent 25%.

“The fear of recession, the fear of worse economic numbers is weighing on commodities and stopping gains from fundamentals from coming through,” Hall said. “We still believe in the gold story. If you believe the world is in trouble of in further economic growth disruption, then gold is a good safe haven. If you believe that the world is going to come out okay, then it’s a good inflation hedge.”

Indeed, Central Banks have been strengthening their gold reserves for the first time in over a decade.
Hall added, “I’d say gold will have a very good run higher, and a very good retracement would be justified. If we see a retracement back to $1,700, I think at that point would be a good opportunity to get in.”

Commodities, Economy, Gold, Hedge Funds, investments,

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