Hedge Fund Citrine Bets on Gold as Economic Woes Weigh on Copper
- More gains seen for gold amid best start to a year since 1979
- Lows in copper, aluminum seen late in year; zinc a bright spot
This article is for subscribers only.
Gold’s biggest rally in almost four decades has further to run as weak economies and teetering equity markets drive investor demand for the metal, according to Citrine Capital Management LLC.
The hedge fund is “bullish overall on gold because the global economy is pretty poor with China as an issue,” Paul Crone, founder of Citrine, said in an interview. “Gold could go as high as $1,400 an ounce,” or 11 percent above Wednesday’s closing futures price, he said.