PIMCO Executive Says Gold Still Looks Expensive Despite Recent Declines, But Long-Term Sheen Intact
Portfolio Pulse from Bhavik Nair
PIMCO's Greg Sharenow believes gold is still expensive despite recent declines and may face further losses, but maintains long-term appeal. Gold is over-valued compared to inflation-linked government bonds, which are better valued for multi-asset portfolios. The SPDR Gold Trust (GLD) and the iShares Gold Trust (IAU) have gained over 6% since the beginning of the year.
June 01, 2023 | 4:53 am
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NEUTRAL IMPACT
PIMCO's Greg Sharenow believes gold is still expensive, but maintains long-term appeal. The SPDR Gold Trust (GLD) has gained over 6% since the beginning of the year.
Despite gold being considered expensive, the long-term outlook remains positive. This may result in a neutral short-term impact on GLD as investors weigh the current valuation against future potential.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80
NEUTRAL IMPACT
PIMCO's Greg Sharenow believes gold is still expensive, but maintains long-term appeal. The iShares Gold Trust (IAU) has gained over 6% since the beginning of the year.
Despite gold being considered expensive, the long-term outlook remains positive. This may result in a neutral short-term impact on IAU as investors weigh the current valuation against future potential.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80