“Gold just seems to make sense; it’s a store of value,” Bloomberg reports Zore saying in an interview following his comments at a conference hosted by Standard & Poor’s in Brooklyn. “In the Depression, gold did very, very well.”
Just last week the greater press reported that U.S. gold futures are up, supported by a combination of a weakened dollar, inflation concerns and simmering geopolitical tensions. Gold gained 10% last month, the most since November.
“The downside risk is limited, but the upside is large,” Zore says. “We have stocks in our portfolio that lost 95%.” Gold “is not going down to $90.”
